I

106TH CONGRESS

1ST SESSION H. R. 2156

To amend title VI of the Consumer Credit Protection Act to permit consumers

to restrict the sharing of confidential financial and personal information

for purposes of telemarketing, by restricting sharing of credit card and

deposit account numbers, by enhancing regulatory enforcement, and for

other purposes.

IN THE HOUSE OF REPRESENTATIVES

JUNE 10, 1999

Mr. LAFALCE (for himself, Mr. VENTO, Mr. FRANK of Massachusetts, Mr.

KANJORSKI, Mr. BENTSEN, and Mr. INSLEE) introduced the following

bill; which was referred to the Committee on Banking and Financial

Services

A BILL

To amend title VI of the Consumer Credit Protection Act

to permit consumers to restrict the sharing of confidential financial and personal information for purposes of

telemarketing, by restricting sharing of credit card and

deposit account numbers, by enhancing regulatory enforcement, and for other purposes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE.

4 This Act may be cited as the ‘‘Consumer Tele5 marketing Financial Privacy Protection Act of 1999’’.
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1 SEC. 2. LIMITATIONS ON THE SHARING OF CONFIDENTIAL

2 INFORMATION FOR PURPOSES OF TELE3 MARKETING TO CONSUMERS.

4 Section 603(d)(2)(A)(i) of the Fair Credit Reporting

5 Act (15 U.S.C. 1681a(d)(2)(A)(i)) is amended by insert6 ing before the semicolon at the end thereof the following:

7 ‘‘, and any communication of that information by

8 the person making the report to any other person

9 for the purpose of telemarketing to the consumer,

10 if—

11 ‘‘(aa) it is clearly and conspicuously dis12 closed to the consumer the information that

13 may be communicated to such persons and the

14 consumer is given the opportunity, before the

15 time that the information is initially commu16 nicated, to direct that such information not be

17 communicated among such persons; and

18 ‘‘(bb) the information to be communicated

19 does not include an account number or other

20 form of access for a credit card, deposit or

21 transaction account of the consumer for use in

22 connection with any telemarketing to the con23 sumer.’’.
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1 SEC. 3. ENHANCEMENT OF FEDERAL ENFORCEMENT AU2 THORITY.

3 Section 621 of the Fair Credit Reporting Act (15

4 U.S.C. 1681s) is amended—

5 (1) in subsection (d), by striking everything fol6 lowing the end of the second sentence; and

7 (2) by striking subsection ‘‘(e)’’ and inserting in

8 lieu thereof the following:

9 ‘‘(e) REGULATORY AUTHORITY.—

10 ‘‘(1) The Federal banking agencies referred to

11 in paragraphs (1) and (2) of subsection (b) shall

12 jointly prescribe such regulations as necessary to

13 carry out the purposes of this Act with respect to

14 any persons identified under paragraphs (1) and (2)

15 of subsection (b), or to the holding companies and

16 affiliates of such persons.

17 ‘‘(2) The Administrator of the National Credit

18 Union Administration shall prescribe such regula19 tions as necessary to carry out the purposes of this

20 Act with respect to any persons identified under

21 paragraph (3) of subsection (b).’’.

22 SEC. 4. REGULATIONS.

23 The Federal banking agencies referred to in para24 graphs (1) and (2) of subsection (b), not later than the

25 end of the 6-month period beginning on the date of the

26 enactment of this Act, shall issue joint regulations in final
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1 form to implement the amendments made by this Act. The

2 Administrator of the National Credit Union Administra3 tion, not later than the end of the 6-month period begin4 ning on the date of enactment of this Act, shall issue regu5 lations in final form to implement the amendments made

6 by this Act with respect to any Federal credit union.

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