I 
112TH CONGRESS 
2D SESSION 
H. R. 5817 
To amend the Gramm-Leach-Bliley Act to provide an exception to the annual 
privacy notice requirement. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 17, 2012 
Mr. LUETKEMEYER (for himself, Mr. WESTMORELAND, and Mr. GARRETT) in-
troduced the following bill; which was referred to the Committee on Fi-
nancial Services 
A BILL 
To amend the Gramm-Leach-Bliley Act to provide an 
exception to the annual privacy notice requirement. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Eliminate Privacy No-
tice Confusion Act’’. 
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SEC. 2. EXCEPTION TO ANNUAL PRIVACY NOTICE REQUIRE-
MENT UNDER THE GRAMM-LEACH-BLILEY 
ACT. 
Section 503 of the Gramm-Leach-Bliley Act (15 
U.S.C. 6803) is amended by adding the following new sub-
sections: 
‘‘(f) EXCEPTION
TO ANNUAL NOTICE REQUIRE-
MENT.—A financial institution that— 
‘‘(1) provides nonpublic personal information 
only in accordance with the provisions of subsection 
(b)(2) or (e) of section 502 or regulations prescribed 
under section 504(b), 
‘‘(2) does not share information with affiliates 
under section 603(d)(2)(A) of the Fair Credit Re-
porting Act, and 
‘‘(3) has not changed its policies and practices 
with regard to disclosing nonpublic personal infor-
mation from the policies and practices that were dis-
closed in the most recent disclosure sent to con-
sumers in accordance with this subsection, 
shall not be required to provide an annual disclosure under 
this subsection until such time as the financial institution 
fails to comply with any criteria described in paragraph 
(1), (2), or (3). 
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‘‘(g) EXCEPTION TO NOTICE REQUIREMENT.—A fi-
nancial institution shall not be required to provide any dis-
closure under this section if— 
‘‘(1) the financial institution is licensed by a 
State and is subject to existing regulation of con-
sumer confidentiality that prohibits disclosure of 
nonpublic personal information without knowing and 
expressed consent of the consumer in the form of 
laws, rules, or regulation of professional conduct or 
ethics promulgated either by the court of highest ap-
pellate authority or by the principal legislative body 
or regulatory agency or body of any State of the 
United States, the District of Columbia, or any ter-
ritory of the United States; or 
‘‘(2) the financial institution is licensed by a 
State and becomes subject to future regulation of 
consumer confidentiality that prohibits disclosure of 
nonpublic personal information without knowing and 
expressed consent of the consumer in the form of 
laws, rules, or regulation of professional conduct or 
ethics promulgated either by the court of highest ap-
pellate authority or by the principal legislative body 
or regulatory agency or body of any State of the 
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