I 

113TH CONGRESS 

2D SESSION H. R. 4604 

To amend the Consumer Financial Protection Act of 2010 to create a consumer opt-out list for data collected by the Bureau, to put time limits 

on data held by the Bureau, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MAY 7, 2014 

Mr. WESTMORELAND (for himself, Mr. DUFFY, Mrs. BACHMANN, Mr. LONG, 

Mr. POSEY, Mr. BENTIVOLIO, and Mr. LUETKEMEYER) introduced the 

following bill; which was referred to the Committee on Financial Services 

A BILL 

To amend the Consumer Financial Protection Act of 2010 

to create a consumer opt-out list for data collected by 

the Bureau, to put time limits on data held by the 

Bureau, 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 ‘‘CFPB Data Collection 

5 Security Act’’. 


TKELLEY on DSK3SPTVN1PROD with BILLS
2 

•HR 4604 IH

1 SEC. 2. COLLECTION AND DISPOSAL OF CONSUMER INFOR2 MATION. 

3 Section 1022(c) of the Consumer Financial Protec4 tion Act of 2010 (12 U.S.C. 5512(c)) is amended by add5 ing at the end the following: 

6 ‘‘(10) OPT-OUT LIST FOR DATA COLLECTION.— 

7 ‘‘(A) IN GENERAL.—The Bureau shall es8 tablish an opt-out list, which shall contain a list 

9 of consumers who have notified the Bureau that 

10 they do not wish to allow the Bureau to collect 

11 personally identifiable information about them. 

12 ‘‘(B) AVAILABILITY OF LIST.—The Bureau 

13 shall provide consumers with a method of add14 ing and removing their names from the opt-out 

15 list both over the phone and on the website of 

16 the Bureau. 

17 ‘‘(C) PROHIBITION ON DATA COLLEC18 TION.— 

19 ‘‘(i) IN GENERAL.—The Bureau may 

20 not collect personally identifiable informa21 tion about a consumer if the consumer is 

22 listed on the opt-out list. 

23 ‘‘(ii) EXCEPTION FOR CONSUMER

24 COMPLAINTS.— 


TKELLEY on DSK3SPTVN1PROD with BILLS
3 

•HR 4604 IH

1 ‘‘(I) IN GENERAL.—This sub2 paragraph shall not apply with respect 

3 to consumer complaints. 

4 ‘‘(II) USE OF DATA.—Personally 

5 identifiable information contained in a 

6 consumer complaint with respect to a 

7 consumer that is listed on the opt-out 

8 list may not be used for any purpose 

9 other than the consumer complaint, 

10 including supervisory functions or 

11 market monitoring. 

12 ‘‘(11) TIMING LIMITATION ON DATA HELD BY

13 THE BUREAU.—The Bureau shall delete or otherwise 

14 destroy— 

15 ‘‘(A) any information related to a con16 sumer complaint regarding consumer financial 

17 products or services, not later than the end of 

18 the 60-day period following the completion of 

19 any review into such complaint where no fur20 ther action will be taken; 

21 ‘‘(B) any reports issued by, or data col22 lected while conducting an examination of, any 

23 covered person, depository institution, or credit 

24 union over which the Bureau has supervisory 

25 authority, after three examinations, except for 


TKELLEY on DSK3SPTVN1PROD with BILLS
4 

•HR 4604 IH

1 enforcement actions that specifically address 

2 payments to consumers; and 

3 ‘‘(C) any information collected by the Bu4 reau about a particular consumer or other per5 son not described under subparagraph (A) or 

6 (B), not later than the 60-day period following 

7 the date on which the Bureau collected such in8 formation. 

9 ‘‘(12) REQUIREMENT IN EVENT OF PRIVACY

10 BREACH.—If the Bureau experiences a data breach 

11 that exposes personally identifiable information 

12 about a consumer, the Bureau shall provide such 

13 consumer with one year of free credit monitoring 

14 and publicly notify consumers of the breach on the 

15 front page of the Bureau’s website. 

16 ‘‘(13) REQUIREMENT FOR SENATE-CONFIRMED

17 DIRECTOR.—Notwithstanding any other provision of 

18 law, the Bureau may not collect any data or perform 

19 any market monitoring unless the Bureau has a 

20 Senate-confirmed Director.’’. 

21 SEC. 3. PERSONNEL REQUIREMENT. 

22 Section 1013(a) of the Consumer Financial Protec23 tion Act of 2010 (12 U.S.C. 5493(a)) is amended by add24 ing at the end the following: 


TKELLEY on DSK3SPTVN1PROD with BILLS
5 

•HR 4604 IH

1 ‘‘(6) CONFIDENTIAL SECURITY CLEARANCE RE2 QUIRED FOR CERTAIN EMPLOYEES.—No employee of 

3 the Bureau may access personally identifiable infor4 mation collected by the Bureau unless such employee 

5 holds a ‘confidential’ security clearance.’’. 

Æ 


TKELLEY on DSK3SPTVN1PROD with BILLS