H.R. 749: Eliminate Privacy Notice Confusion Act

113th Congress, 2013–2015. Text as of Feb 15, 2013 (Introduced).

Status & Summary | PDF | Source: GPO and Cato Institute Deepbills

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113th CONGRESS

1st Session

H. R. 749

IN THE HOUSE OF REPRESENTATIVES

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

A BILL

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

1.

Short title

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

2.

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:

(f)

Exception to annual notice requirement

A financial institution that—

(1)

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

(2)

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).

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