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H.R. 749 (113th): Eliminate Privacy Notice Confusion Act

The text of the bill below is as of Feb 15, 2013 (Introduced).



1st Session

H. R. 749


February 15, 2013

(for himself, Mr. Sherman, Mr. Huizenga of Michigan, Mr. Graves of Missouri, Mr. Meeks, Mr. Westmoreland, Mr. Hinojosa, Ms. Norton, Mr. Michaud, Mr. Renacci, Mr. Royce, Mr. Owens, Mr. Gosar, Mr. Peters of Michigan, Mrs. McCarthy of New York, Mr. Stivers, Mr. Hastings of Florida, Mr. Ben Ray Luján of New Mexico, and Mr. Wilson of South Carolina) introduced the following bill; which was referred to the Committee on Financial Services


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


Short title

This Act may be cited as the Eliminate Privacy Notice Confusion Act .


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 section,

shall not be required to provide an annual disclosure under this section until such time as the financial institution fails to comply with any criteria described in paragraph (1) or (2).