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Copyright 2000 Federal News Service, Inc.  
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June 14, 2000, Wednesday

SECTION: PREPARED TESTIMONY

LENGTH: 526 words

HEADLINE: PREPARED TESTIMONY OF AMERICA'S COMMUNITY BANKERS
 
BEFORE THE HOUSE COMMITTEE ON BANKING AND FINANCIAL SERVICES
 
SUBJECT - H.R. 4585, THE "MEDICAL FINANCIAL PRIVACY PROTECTION ACT"

BODY:
 America's Community Bankers is pleased to submit testimony for today's hearing before the House Banking and Financial Services Committee on medical information privacy. ACB represents the nation's community banks of all charter types and sizes. Our members pursue progressive, entrepreneurial and service-oriented strategies in providing financial services to benefit their customers and communities. Mr. Chairman, ACB commends you for holding this hearing on medical information privacy and your legislation, H.R. 4585, the "Medical Financial Privacy Protection Act." Given its unique sensitivity among the general public, the treatment of private medical information is an issue which deserves close examination by Congress in a public forum, such as today's hearing.

Community banks are well aware of the importance of protecting the confidentiality of customer information. Community banks across the country are in the midst of complying with the requirements of the most sweeping law in American history to protect the financial information privacy interests of consumers. The implementation of the privacy provisions of the GrammLeach-Bliley Act (GLBA) will ensure consumers of financial services that their personal information will continue to be safeguarded by their local community bank and other financial institutions.

One area of customer information privacy that was not directly addressed by the GLBA was the confidentiality of medical information. Congress chose this approach, despite the best efforts of you, Mr. Chairman, to include in the GLBA an opt-in requirement for the disclosure of individually identifiable health and medical information. ACB strongly supported this initiative. Instead, Congress made the decision to wait until the U.S. Department of Health and Human Services (HHS) could develop federal standards governing the treatment of such information under the authority of the "Health Insurance Portability and Accountability Act of 1996."

ACB continues to support public policy that lenders receive the affirmative consent of a consumer before that consumer's individually identifiable health information can be disclosed to another party.

Frankly, the vast majority of our members do not have access to individually identifiable health information, nor do they seek to obtain such information in making decisions to offer loans or extend credit. Those institutions that may have access to individually identifiable health information do not use this information as part of their lending practices.

While ACB stands behind this public position on medical information privacy, we do encourage Congress to refrain from passing additional legislation before all currently authorized regulatory remedies, such as the regulations being developed by the HHS, are exhausted. Legislative efforts to reopen the GLBA no matter how targeted, could result in new, harmful restrictions on the ability of community banks and other financial institutions to legitimately use information. We do, however, commend Congressional efforts, such as today's hearing, to publicly examine such issues of public concern.

END

LOAD-DATE: June 15, 2000




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