[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2396 Reported in House (RH)]

<DOC>





                                                 Union Calendar No. 321
115th CONGRESS
  1st Session
                                H. R. 2396

                          [Report No. 115-434]

To amend the Gramm-Leach-Bliley Act to update the exception for certain 
           annual notices provided by financial institutions.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 4, 2017

  Mr. Trott (for himself and Mr. Clay) introduced the following bill; 
       which was referred to the Committee on Financial Services

                            December 4, 2017

   Additional sponsors: Mr. Sherman, Mr. Luetkemeyer, Mr. Meeks, Mr. 
             Messer, Mr. Rothfus, and Mr. Gonzalez of Texas

                            December 4, 2017

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]
[For text of introduced bill, see copy of bill as introduced on May 4, 
                                 2017]


_______________________________________________________________________

                                 A BILL


 
To amend the Gramm-Leach-Bliley Act to update the exception for certain 
           annual notices provided by financial institutions.


 


    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 ``Privacy Notification Technical 
Clarification Act''.

SEC. 2. EXCEPTION TO ANNUAL NOTICE REQUIREMENT.

    Section 503 of the Gramm-Leach-Bliley Act (15 U.S.C. 6803) is 
amended by adding at the end the following:
    ``(g) Additional Exception to Annual Notice Requirement.--
            ``(1) In general.--A financial institution that 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 if--
                    ``(A) the financial institution makes its current 
                policy available to consumers on its website and via 
                mail upon written request sent to a designated address 
                identified for the purpose of requesting the policy or 
                upon telephone request made using a toll free consumer 
                service telephone number; and
                    ``(B) the financial institution conspicuously 
                notifies consumers of the availability of the current 
                policy, including--
                            ``(i) with respect to consumers who are 
                        entitled to a periodic billing statement, a 
                        message on or with each periodic billing 
                        statement; and
                            ``(ii) with respect to consumers who are 
                        not entitled to a periodic billing statement, 
                        through other reasonable means such as on its 
                        website or with other written communication, 
                        including electronic communication, sent to the 
                        consumer.
            ``(2) Treatment of multiple policies.--If a financial 
        institution maintains more than one set of policies described 
        under paragraph (1) that vary depending on the consumer's 
        account status or State of residence, the financial institution 
        may comply with the website posting requirement in paragraph 
        (1)(A) by posting all of such policies to the public section of 
        the financial institution's website, with instructions for 
        choosing the applicable policy.''.
                                                 Union Calendar No. 321

115th CONGRESS

  1st Session

                               H. R. 2396

                          [Report No. 115-434]

_______________________________________________________________________

                                 A BILL

To amend the Gramm-Leach-Bliley Act to update the exception for certain 
           annual notices provided by financial institutions.

_______________________________________________________________________

                            December 4, 2017

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed