[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5817 Referred in Senate (RFS)]

112th CONGRESS
  2d Session
                                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

_______________________________________________________________________

                                 AN ACT


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

    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 ``Eliminate Privacy Notice Confusion 
Act''.

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

            Passed the House of Representatives December 12, 2012.

            Attest:

                                                 KAREN L. HAAS,

                                                                 Clerk.