[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 601 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 601

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


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 28, 2015

 Mr. Luetkemeyer (for himself, Mr. Sherman, Ms. Norton, Mr. Welch, Mr. 
Lipinski, Mr. Foster, Mrs. Carolyn B. Maloney of New York, Ms. Tsongas, 
 Mr. Westmoreland, Mr. Royce, Mr. Hurt of Virginia, Mr. Pittenger, Mr. 
  Fincher, Mr. Huizenga of Michigan, Mr. Stivers, Mr. Kilmer, and Mr. 
 Perlmutter) 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.

    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 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).''.
                                 <all>