[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3910 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 3910

  To amend the Gramm-Leach-Bliley Act to give the Bureau of Consumer 
  Financial Protection rulemaking and enforcement authority over the 
 safeguards rule with respect to data aggregators and other financial 
                 institutions, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 15, 2021

  Mr. Lynch introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To amend the Gramm-Leach-Bliley Act to give the Bureau of Consumer 
  Financial Protection rulemaking and enforcement authority over the 
 safeguards rule with respect to data aggregators and other financial 
                 institutions, 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 ``Safeguarding Non-bank Consumer 
Information Act''.

SEC. 2. APPLICATION OF SAFEGUARDS RULE TO DATA AGGREGATORS.

    (a) Application of Safeguards Rule.--Section 501 of the Gramm-
Leach-Bliley Act (15 U.S.C. 6801) is amended--
            (1) in the matter preceding paragraph (1), by inserting 
        ``and except as provided in subsection (c)'' after ``subsection 
        (a)'';
            (2) in subsection (b), by striking ``, other than the 
        Bureau of Consumer Financial Protection,''; and
            (3) by adding at the end the following new subsection:
    ``(c) Data Aggregators.--The Bureau of Consumer Financial 
Protection shall establish, by rule, appropriate standards for data 
aggregators relating to administrative, technical, and physical 
safeguards to protect records and information as described in 
paragraphs (1) through (3) of subsection (b).''.
    (b) Authority of the Bureau.--Title V of the Gramm-Leach-Bliley Act 
(15 U.S.C. 6801 et seq.) is amended--
            (1) in section 504(a)(1)(A), by striking ``, except that 
        the Bureau of Consumer Financial Protection shall not have 
        authority to prescribe regulations with respect to the 
        standards under section 501'';
            (2) in section 505--
                    (A) in subsection (a)(8), by striking ``, but not 
                with respect to the standards under section 501'' and 
                inserting ``, including data aggregators'';
                    (B) in subsection (b)(1), by striking ``, other 
                than the Bureau of Consumer Financial Protection,''; 
                and
                    (C) in subsection (b)(2), by striking ``and (7)'' 
                and inserting ``(7), and (8)''; and
            (3) in section 508(a), by striking ``and the Federal Trade 
        Commission'' and inserting ``, the Federal Trade Commission, 
        and the Bureau of Consumer Financial Protection''.
    (c) Definition.--Section 509 of the Gramm-Leach-Bliley Act (15 
U.S.C. 6809) is amended--
            (1) in paragraph (3)(A), by inserting before the period at 
        the end ``, and includes a data aggregator''; and
            (2) by adding at the end the following new paragraph:
            ``(12) Data aggregator.--The term `data aggregator' means a 
        person that collects, maintains, utilizes, distributes, or 
        gives access to individual or aggregate nonpublic personal 
        information to another financial institution.''.
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