H. R. 5817
IN THE SENATE OF THE UNITED STATES
December 13, 2012
Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To amend the Gramm-Leach-Bliley Act to provide an exception to the annual privacy notice requirement.
This Act may be cited as the
Eliminate Privacy Notice Confusion
Exception to annual privacy notice requirement under the Gramm-Leach-Bliley Act
Section 503 of the Gramm-Leach-Bliley Act (15 U.S.C. 6803) is amended by adding at the end the following:
Exception to annual notice requirement
A financial institution that—
provides nonpublic personal information only in accordance with the provisions of subsection (b)(2) or (e) of section 502 or regulations prescribed under section 504(b), and
has not changed its policies and practices with regard to disclosing nonpublic personal information from the policies and practices that were disclosed in the most recent disclosure sent to consumers in accordance with this subsection,
Passed the House of Representatives December 12, 2012.
Karen L. Haas,