[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2156 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 2156

   To amend title VI of the Consumer Credit Protection Act to permit 
    consumers to restrict the sharing of confidential financial and 
  personal information for purposes of telemarketing, by restricting 
   sharing of credit card and deposit account numbers, by enhancing 
            regulatory enforcement, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 10, 1999

 Mr. LaFalce (for himself, Mr. Vento, Mr. Frank of Massachusetts, Mr. 
Kanjorski, Mr. Bentsen, and Mr. Inslee) introduced the following bill; 
 which was referred to the Committee on Banking and Financial Services

_______________________________________________________________________

                                 A BILL


 
   To amend title VI of the Consumer Credit Protection Act to permit 
    consumers to restrict the sharing of confidential financial and 
  personal information for purposes of telemarketing, by restricting 
   sharing of credit card and deposit account numbers, by enhancing 
            regulatory enforcement, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Consumer Telemarketing Financial 
Privacy Protection Act of 1999''.

SEC. 2. LIMITATIONS ON THE SHARING OF CONFIDENTIAL INFORMATION FOR 
              PURPOSES OF TELEMARKETING TO CONSUMERS.

    Section 603(d)(2)(A)(i) of the Fair Credit Reporting Act (15 U.S.C. 
1681a(d)(2)(A)(i)) is amended by inserting before the semicolon at the 
end thereof the following:
        ``, and any communication of that information by the person 
        making the report to any other person for the purpose of 
        telemarketing to the consumer, if--
                    ``(aa) it is clearly and conspicuously disclosed to 
                the consumer the information that may be communicated 
                to such persons and the consumer is given the 
                opportunity, before the time that the information is 
                initially communicated, to direct that such information 
                not be communicated among such persons; and
                    ``(bb) the information to be communicated does not 
                include an account number or other form of access for a 
                credit card, deposit or transaction account of the 
                consumer for use in connection with any telemarketing 
                to the consumer.''.

SEC. 3. ENHANCEMENT OF FEDERAL ENFORCEMENT AUTHORITY.

    Section 621 of the Fair Credit Reporting Act (15 U.S.C. 1681s) is 
amended--
            (1) in subsection (d), by striking everything following the 
        end of the second sentence; and
            (2) by striking subsection ``(e)'' and inserting in lieu 
        thereof the following:
    ``(e) Regulatory Authority.--
            ``(1) The Federal banking agencies referred to in 
        paragraphs (1) and (2) of subsection (b) shall jointly 
        prescribe such regulations as necessary to carry out the 
        purposes of this Act with respect to any persons identified 
        under paragraphs (1) and (2) of subsection (b), or to the 
        holding companies and affiliates of such persons.
            ``(2) The Administrator of the National Credit Union 
        Administration shall prescribe such regulations as necessary to 
        carry out the purposes of this Act with respect to any persons 
        identified under paragraph (3) of subsection (b).''.

SEC. 4. REGULATIONS.

    The Federal banking agencies referred to in paragraphs (1) and (2) 
of subsection (b), not later than the end of the 6-month period 
beginning on the date of the enactment of this Act, shall issue joint 
regulations in final form to implement the amendments made by this Act. 
The Administrator of the National Credit Union Administration, not 
later than the end of the 6-month period beginning on the date of 
enactment of this Act, shall issue regulations in final form to 
implement the amendments made by this Act with respect to any Federal 
credit union.
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