H.R. 749: Eliminate Privacy Notice Confusion Act

Introduced:
Feb 15, 2013 (113th Congress, 2013–2015)
Sponsor:
Rep. Blaine Luetkemeyer [R-MO3]
Status:
Passed House

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill passed in the House on March 12, 2013 and goes to the Senate next for consideration.

Progress
Introduced Feb 15, 2013
Referred to Committee Feb 15, 2013
Passed House Mar 12, 2013
Passed Senate ...
Signed by the President ...
Prognosis

22% chance of being enacted.

Only 28% of House bills that made it past committee in 2011–2013 were enacted. [show factors | methodology]

Cosponsors
73 cosponsors (37R, 36D) (show)
Committees

House Financial Services

Senate Banking, Housing, and Urban Affairs

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Gramm-Leach-Bliley Act to provide an exception to the annual privacy notice requirement.

Summary

No summaries available.

Text

Read Bill Text »

Last updated Mar 13, 2013.
3 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

3/12/2013--Passed House without amendment.
Eliminate Privacy Notice Confusion Act - Amends the Gramm-Leach-Bliley Act to exempt from its annual privacy policy notice requirement any financial institution which: (1) provides nonpublic personal information only in accordance with specified requirements, and (2) has not changed its policies and practices with regard to disclosing nonpublic personal information from those disclosed in the most recent disclosure sent to consumers.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

This summary can be found at http://www.gop.gov/bill/113/1/hr749.

Background

The Gramm-Leach-Bliley Act (GLBA) requires financial institutions to issue privacy disclosure notices to consumers that detail the institution’s privacy policies if it shares customers’ non-public personal information with affiliates or third parties.  The law also requires notifying existing and potential customers of their right to opt out of sharing non-public personal information with third parties.  Such disclosures are required to occur when a customer relationship is first established with the institution and annually in written form as long as the relationship continues, even if no changes to the disclosure policies have occurred. 

H.R. 749 would reduce confusion among consumers that can occur when they receive annual privacy notices by clarifying that annual privacy notices are only required when disclosure policies change after the relationship begins, and to the extent an institution shares sensitive personal information with third parties for marketing purposes.

A similar bill, H.R. 5817, passed the House in the 112th Congress on December 12, 2012 by voice vote.  For more information, please see the Legislative Digest for H.R. 5817, located here.

Summary

H.R. 749 would create exemptions from annual privacy notice requirements for a financial institution that: (1) provides nonpublic personal information about consumers to unaffiliated third parties only in accordance with exceptions under the Graham-Leach-Bliley Act (e.g. service providers, law enforcement, or as necessary to fulfill a transaction requested by the customer), or (2) has not changed its disclosure policies and practices since the most recent disclosure was sent to consumers.

Cost

There is no CBO score currently available.  However, CBO does not expect the bill to have any effect on direct spending or revenues.

House Democratic Caucus Summary

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So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.

We’ll be looking for a source of summaries from the other side in the meanwhile.

The bill contains the following citations to other parts of U.S. law:

United States Code

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