Consumer Right to Financial Privacy Act of 2013

Bill: 113-hr-2571
Sponsor: Rep. Duffy, Sean P. [R-WI-7]
Introduced: 2013-06-28 in the House
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation
Business records
Consumer affairs
Government information and archives
Right of privacy

Summary:
action_date: 2013-06-28
text: 
Consumer Right to Financial Privacy Act of 2013 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to revise the prohibition against the Consumer Financial Protection Bureau (CFPB)'s obtaining, from a covered person or service provider, any personally identifiable financial information about a consumer.
 
Prohibits the CFPB, in addition, from requesting, accessing, collecting, using, retaining, or disclosing nonpublic personal information about a consumer unless: (1) the CFPB clearly and conspicuously discloses to the consumer, in writing or in an electronic form, what information will be requested, obtained, accessed, collected, used, retained, or disclosed; and (2) the consumer informs the CFPB, before such information is requested, obtained, accessed, collected, used, retained, or disclosed, that such information may be requested, obtained, accessed, collected, used, retained, or disclosed.
 
 Subjects to the same restrictions and conditions to any person directed or engaged by the CFPB to collect such information on its behalf.
 
Amends the Right to Financial Privacy Act of 1978 to repeal the exemption from its application for CFPB examination or disclosure of financial records or information in the exercise of CFPB authority with respect to a financial institution (thus applying the Act to CFPB examinations and disclosures).

action_date: 2014-02-06
text: 

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure

.)

 
Consumer Right to Financial Privacy Act of 2013 - (Sec. 1) Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to revise the prohibition against the Consumer Financial Protection Bureau (CFPB)'s obtaining, from a covered person or service provider, any personally identifiable financial information about a consumer.
 
(Sec. 2) Prohibits the CFPB, in addition, from requesting, accessing, collecting, using, retaining, or disclosing nonpublic personal information about a consumer unless: (1) the CFPB clearly and conspicuously discloses to the consumer, in writing or in an electronic form, what information will be requested, obtained, accessed, collected, used, retained, or disclosed; and (2) the consumer informs the CFPB, before such information is requested, obtained, accessed, collected, used, retained, or disclosed, that such information may be requested, obtained, accessed, collected, used, retained, or disclosed.
 
 Subjects to the same restrictions and conditions any person directed or engaged by the CFPB to collect such information on its behalf.
 
(Sec. 3) Amends the Right to Financial Privacy Act of 1978 to repeal the exemption from its application for CFPB examination or disclosure of financial records or information in the exercise of CFPB authority with respect to a financial institution (thus applying the Act to CFPB examinations and disclosures).


Legislative actions:
action_date: 2014-02-06
text: Placed on the Union Calendar, Calendar No. 254.
action_date: 2014-02-06
text: Reported by the Committee on Financial Services. H. Rept. 113-344.
action_date: 2014-02-06
text: Reported by the Committee on Financial Services. H. Rept. 113-344.
action_date: 2013-11-21
text: Ordered to be Reported by the Yeas and Nays: 32 - 25.
action_date: 2013-11-21
text: Committee Consideration and Mark-up Session Held.
action_date: 2013-10-29
text: Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
action_date: 2013-06-28
text: Referred to the House Committee on Financial Services.
action_date: 2013-06-28
text: Introduced in House
action_date: 2013-06-28
text: Introduced in House