Bill Summary & Status for the 106th Congress

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S.2513
Sponsor: Sen Leahy, Patrick J.(introduced 5/4/2000)
Latest Major Action: 5/4/2000 Referred to Senate committee
Title: A bill to strengthen control by consumers over the use and disclosure of their personal financial and health information by financial institutions, and for other purposes.
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TITLE(S):  (italics indicate a title for a portion of a bill)
STATUS: (color indicates Senate actions)
5/4/2000:
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S3532-3535)

COMMITTEE(S):
RELATED BILL DETAILS:

***NONE***


AMENDMENT(S):

***NONE***


COSPONSORS(9), ALPHABETICAL [followed by Cosponsors withdrawn]:     (Sort: by date)

Sen Bryan, Richard H. - 5/4/2000 Sen Dodd, Christopher J. - 5/4/2000
Sen Durbin, Richard J. - 5/4/2000 Sen Edwards, John - 5/4/2000
Sen Feinstein, Dianne - 5/4/2000 Sen Harkin, Tom - 5/4/2000
Sen Kerry, John F. - 5/4/2000 Sen Robb, Charles S. - 5/4/2000
Sen Sarbanes, Paul S. - 5/4/2000


SUMMARY AS OF:
5/4/2000--Introduced.

Financial Information Privacy Protection Act of 2000 - Amends the Gramm-Leach-Bliley Act to provide that the customer's affirmative consent is a prerequisite to financial institution disclosure to affiliates of customer nonpublic personal information, including information about personal spending habits (currently such consent is only required for financial institution disclosure to nonaffiliated third parties).

(Sec. 4) Emphasizes that this Act neither modifies, limits, nor supersedes standards established under the Health Insurance Portability and Accountability Act of 1996 with respect to the privacy and security of individually identifiable health information.

(Sec. 5) Sets forth limits upon redisclosure and reuse of nonpublic consumer personal information received by an affiliated or nonaffiliated third party from a financial institution.

(Sec. 6) Prescribes guidelines for: (1) consumer rights to access and correct information; and (2) Federal and State enforcement powers under this Act.

(Sec. 8) Revises requirements for the timing of a financial institution's disclosure to consumers of its privacy policies and practices, including a new requirement that the disclosure first occur before a customer relationship is established (currently, when it is established).

(Sec. 9) Prohibits a financial institution from disclosing to either an affiliate or nonaffiliated third party its customer's account number or comparable access number or code.

(Sec. 10) Permits financial institution disclosure of nonpublic personal information: (1) in connection with performing services or functions solely on such institution's behalf regarding its own customers, including marketing of the institution's own products or services to its customers; and (2) in order to facilitate certain customer services.

(Sec. 12) Directs specified Federal agencies, including the Federal Trade Commission, to prescribe implementing regulations.