Bill Summary & Status for the 106th Congress

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H.R.3320
Sponsor: Rep Markey, Edward J.(introduced 11/10/1999)
Related Bills: S.1903
Latest Major Action: 12/2/1999 Referred to House subcommittee
Title: To amend the privacy provisions of the Gramm-Leach-Bliley Act.
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TITLE(S):  (italics indicate a title for a portion of a bill)
STATUS: (color indicates Senate actions)
11/10/1999:
Referred to the Committee on Banking and Financial Services, and in addition to the Committee on Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
11/10/1999:
Referred to House Banking and Financial Services
12/2/1999:
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
11/10/1999:
Referred to House Commerce
11/30/1999:
Referred to the Subcommittee on Finance and Hazardous Materials.
COMMITTEE(S):
RELATED BILL DETAILS:  (additional related bills may be indentified in Status)

AMENDMENT(S):

***NONE***

COSPONSORS(71), ALPHABETICAL [followed by Cosponsors withdrawn]:     (Sort: by date)

Rep Baldwin, Tammy - 11/10/1999 Rep Barrett, Thomas M. - 11/10/1999
Rep Barton, Joe - 11/10/1999 Rep Berman, Howard L. - 11/18/1999
Rep Blumenauer, Earl - 11/17/1999 Rep Bonior, David E. - 2/16/2000
Rep Brown, Corrine - 11/16/1999 Rep Campbell, Tom - 11/10/1999
Rep Capuano, Michael E. - 11/16/1999 Rep Clayton, Eva M. - 2/29/2000
Rep Conyers, John, Jr. - 11/17/1999 Rep Costello, Jerry F. - 11/16/1999
Rep Coyne, William J. - 11/17/1999 Rep DeFazio, Peter A. - 11/16/1999
Rep DeGette, Diana - 3/8/2000 Rep Delahunt, William D. - 11/16/1999
Rep DeLauro, Rosa L. - 11/16/1999 Rep Dingell, John D. - 11/10/1999
Rep Edwards, Chet - 11/16/1999 Rep Eshoo, Anna G. - 11/10/1999
Rep Evans, Lane - 11/10/1999 Rep Fattah, Chaka - 11/17/1999
Rep Filner, Bob - 11/16/1999 Rep Gejdenson, Sam - 2/29/2000
Rep Gephardt, Richard A. - 11/18/1999 Rep Goodling, William F. - 3/9/2000
Rep Green, Gene - 11/16/1999 Rep Gutierrez, Luis V. - 4/3/2000
Rep Hastings, Alcee L. - 11/18/1999 Rep Hinchey, Maurice D. - 11/10/1999
Rep Hoeffel, Joseph M. - 4/12/2000 Rep Inslee, Jay - 11/16/1999
Rep Jackson, Jesse L., Jr. - 11/10/1999 Rep Jefferson, William J. - 4/12/2000
Rep Kildee, Dale E. - 11/10/1999 Rep Kleczka, Gerald D. - 11/17/1999
Rep Kolbe, Jim - 2/16/2000 Rep Kucinich, Dennis J. - 11/10/1999
Rep Lantos, Tom - 2/29/2000 Rep Lee, Barbara - 11/10/1999
Rep Lewis, John - 11/10/1999 Rep Lipinski, William O. - 11/18/1999
Rep Luther, Bill - 11/10/1999 Rep McCarthy, Karen - 11/17/1999
Rep McDermott, Jim - 11/16/1999 Rep McGovern, James P. - 11/16/1999
Rep McKinney, Cynthia A. - 4/3/2000 Rep Meehan, Martin T. - 11/17/1999
Rep Meek, Carrie P. - 11/10/1999 Rep Miller, George - 11/16/1999
Rep Mink, Patsy T. - 11/16/1999 Rep Murtha, John P. - 11/18/1999
Rep Nadler, Jerrold - 11/16/1999 Rep Neal, Richard E. - 11/16/1999
Rep Norton, Eleanor Holmes - 11/18/1999 Rep Obey, David R. - 11/10/1999
Rep Olver, John W. - 11/16/1999 Rep Rivers, Lynn N. - 11/10/1999
Rep Roybal-Allard, Lucille - 11/10/1999 Rep Sanders, Bernard - 11/17/1999
Rep Schakowsky, Janice D. - 11/10/1999 Rep Scott, Robert C. - 11/18/1999
Rep Slaughter, Louise McIntosh - 11/16/1999 Rep Stark, Fortney Pete - 11/16/1999
Rep Taylor, G. - 11/18/1999 Rep Tierney, John F. - 11/10/1999
Rep Udall, Mark - 2/29/2000 Rep Udall, Tom - 3/8/2000
Rep Waters, Maxine - 11/16/1999 Rep Waxman, Henry A. - 11/10/1999
Rep Woolsey, Lynn C. - 11/10/1999

SUMMARY AS OF:
11/10/1999--Introduced.

Consumer's Right to Financial Privacy Act - Amends the Gramm-Leach-Bliley Act to revamp financial institution obligations regarding disclosures of personal information sharing. Prohibits such institutions from either disclosing, or making unrelated use, of nonpublic personal information collected in a consumer transaction unless the institution has notified the consumer in accordance with prescribed regulations. (Currently such disclosure or unrelated use is permitted with institutional affiliates without prior notice to consumers.) Requires the consumer's affirmative consent (opt-in) to any such information sharing between a financial institution, its affiliates, or any other person that is neither an employee or agent of such institution. (Current law permits nonpublic personal consumer information sharing by a financial institution with nonaffiliated third parties for marketing and other purposes, unless the consumer opts out in writing.)

Mandates that designated regulatory agencies promulgate regulations that: (1) require affirmative consumer consent as a prerequisite to any information sharing by a financial institution; (2) prohibit a financial institution from denying a product or service to a consumer who has denied consent to such information transfer; and (3) require consumer access and opportunity to dispute nonpublic personal information made available by the institution to persons other than its own personnel.

Prohibits a financial institution from disclosing a consumer's access number or code to both an affiliated or nonaffiliated third party for use in telemarketing, direct mail marketing, or other marketing through electronic mail to the consumer. (Current law permits such disclosure to affiliates).

Restricts nonpublic personal information received from a financial institution by an affiliate or nonaffiliated third party from being further disclosed to another affiliate or nonaffiliated third party of both the financial institution and such recipient.

Requires designated regulatory agencies to promulgate proscriptions against unfair and deceptive practices in connection with either the disclosure of nonpublic personal information, or with making unrelated uses of that information. Prescribes regulation contents, including a requirement that a financial institution disclose to the consumer: (1) the categories of nonpublic personal information the institution collects; and (2) its practices and policies with respect to disclosing or making unrelated uses of it.

Authorizes the States to enjoin violations of this Act.

Amends the Fair Credit Reporting Act to direct the Federal Trade Commission (FTC) to prescribe implementing regulations with respect to this Act. Authorizes the Secretary of the Treasury to promulgate procedural guidelines governing State election to participate in the enforcement of this Act.

Provides that protection under State law that is greater than the protection accorded under this Act (as determined by either the FTC or a Federal functional regulator) shall not be deemed inconsistent with this Act.

Repeals the exemption granting permission to State-licensed private investigators acting under court authorization to obtain customer information of a financial institution for purposes of collecting child support from a person adjudged delinquent.

Confers enforcement authority upon the States with respect to violations pertaining to fraudulent access to financial information under this Act.