Examination and Supervisory Privilege Parity Act of 2014

Bill: 113-hr-5062
Sponsor: full_name: Rep. Perlmutter, Ed [D-CO-7]
Introduced: 2014-07-10
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation

Business records

Consumer Financial Protection Bureau

Financial services and investments

Government information and archives

Intergovernmental relations

State and local government operations
Latest action: action_date: 2014-09-26
text: Became Public Law No: 113-173.

Summaries:
action_date: 2014-07-10
action_desc: Introduced in House
text: <p> Examination and Supervisory Privilege Parity Act of 2014 - Amends the Consumer Financial Protection Act of 2010, with respect to the supervision of nondepository covered persons, to include state agencies that licence, supervise, or examine the offering of consumer financial products or services among the regulatory agencies with which the Consumer Financial Protection Bureau (CFPB) is required to coordinate its supervisory activities.</p> <p>Declares that the sharing of information with such regulators, authorities, and agencies shall not be construed as waiving, destroying, or otherwise affecting any privilege claimed by nondepository covered persons under federal or state law regarding such information as to any person or entity other than the CFPB, agency, supervisor, or authority.</p>

action_date: 2014-07-29
action_desc: Passed House amended
text: <p> Examination and Supervisory Privilege Parity Act of 2014 - Amends the Consumer Financial Protection Act of 2010, with respect to the supervision of nondepository covered persons, to include state agencies that licence, supervise, or examine the offering of consumer financial products or services among the regulatory agencies with which the Consumer Financial Protection Bureau (CFPB) is required to coordinate its supervisory activities.</p> <p>Declares that the sharing of information with such regulators, authorities, and agencies shall not be construed as waiving, destroying, or otherwise affecting any privilege or confidentiality claimed by nondepository covered persons under federal or state law regarding such information as to any person or entity other than the CFPB, agency, supervisor, or authority.</p>

action_date: 2014-09-18
action_desc: Passed Senate without amendment
text: <p><b>(This measure has not been amended since it was passed by the House on July 29, 2014. The summary of that version is repeated here.)</b></p> <p> Examination and Supervisory Privilege Parity Act of 2014 - Amends the Consumer Financial Protection Act of 2010, with respect to the supervision of nondepository covered persons, to include state agencies that licence, supervise, or examine the offering of consumer financial products or services among the regulatory agencies with which the Consumer Financial Protection Bureau (CFPB) is required to coordinate its supervisory activities.</p> <p>Declares that the sharing of information with such regulators, authorities, and agencies shall not be construed as waiving, destroying, or otherwise affecting any privilege or confidentiality claimed by nondepository covered persons under federal or state law regarding such information as to any person or entity other than the CFPB, agency, supervisor, or authority.</p>

action_date: 2014-09-26
action_desc: Public Law
text: <p><b>(This measure has not been amended since it was passed by the House on July 29, 2014. The summary of that version is repeated here.)</b></p> <p> Examination and Supervisory Privilege Parity Act of 2014 - Amends the Consumer Financial Protection Act of 2010, with respect to the supervision of nondepository covered persons, to include state agencies that licence, supervise, or examine the offering of consumer financial products or services among the regulatory agencies with which the Consumer Financial Protection Bureau (CFPB) is required to coordinate its supervisory activities.</p> <p>Declares that the sharing of information with such regulators, authorities, and agencies shall not be construed as waiving, destroying, or otherwise affecting any privilege or confidentiality claimed by nondepository covered persons under federal or state law regarding such information as to any person or entity other than the CFPB, agency, supervisor, or authority.</p>

tv_txt: I 113th CONGRESS 2d Session H. R. 5062 IN THE HOUSE OF REPRESENTATIVES July 10, 2014 Mr. Perlmutter (for himself and Mr. Barr ) 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 specify that privilege is maintained when information is shared by certain nondepository covered persons with Federal and State financial regulators, and for other purposes.

1. Short title This Act may be cited as the Examination and Supervisory Privilege Parity Act of 2014 . 2. Privilege of information shared by certain nondepository covered persons Section 1024(b)(3) of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5514(b)(3) ) is amended— (1) by striking regulators and the State bank regulatory authorities and inserting regulators, the State bank regulatory authorities, and the State agencies that licence, supervise, or examine the offering of consumer financial products or services ; and (2) by adding at the end the following: The sharing of information with such regulators, authorities, and agencies shall not be construed as waiving, destroying, or otherwise affecting any privilege such person may claim with respect to such information under Federal or State law as to any person or entity other than such Bureau, agency, supervisor, or authority. .

tv_txt: I 113th CONGRESS 2d Session H. R. 5062 IN THE HOUSE OF REPRESENTATIVES AN ACT To amend the Consumer Financial Protection Act of 2010 to specify that privilege and confidentiality are maintained when information is shared by certain nondepository covered persons with Federal and State financial regulators, and for other purposes.

1. Short title This Act may be cited as the Examination and Supervisory Privilege Parity Act of 2014 . 2. Privilege of information shared by certain nondepository covered persons Section 1024(b)(3) of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5514(b)(3) ) is amended— (1) by striking regulators and the State bank regulatory authorities and inserting regulators, the State bank regulatory authorities, and the State agencies that licence, supervise, or examine the offering of consumer financial products or services ; and (2) by adding at the end the following: The sharing of information with such regulators, authorities, and agencies shall not be construed as waiving, destroying, or otherwise affecting any privilege or confidentiality such person may claim with respect to such information under Federal or State law as to any person or entity other than such Bureau, agency, supervisor, or authority. .

Passed the House of Representatives July 29, 2014. Karen L. Haas, Clerk.

tv_txt: IIB 113th CONGRESS 2d Session H. R. 5062 IN THE SENATE OF THE UNITED STATES July 30, 2014 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To amend the Consumer Financial Protection Act of 2010 to specify that privilege and confidentiality are maintained when information is shared by certain nondepository covered persons with Federal and State financial regulators, and for other purposes.

1. Short title This Act may be cited as the Examination and Supervisory Privilege Parity Act of 2014 . 2. Privilege of information shared by certain nondepository covered persons Section 1024(b)(3) of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5514(b)(3) ) is amended— (1) by striking regulators and the State bank regulatory authorities and inserting regulators, the State bank regulatory authorities, and the State agencies that licence, supervise, or examine the offering of consumer financial products or services ; and (2) by adding at the end the following: The sharing of information with such regulators, authorities, and agencies shall not be construed as waiving, destroying, or otherwise affecting any privilege or confidentiality such person may claim with respect to such information under Federal or State law as to any person or entity other than such Bureau, agency, supervisor, or authority. .

Passed the House of Representatives July 29, 2014. Karen L. Haas, Clerk

tv_txt: I One Hundred Thirteenth Congress of the United States of America At the Second Session Begun and held at the City of Washington on Friday, the third day of January, two thousand and fourteen H. R. 5062 AN ACT To amend the Consumer Financial Protection Act of 2010 to specify that privilege and confidentiality are maintained when information is shared by certain nondepository covered persons with Federal and State financial regulators, and for other purposes.

1. Short title This Act may be cited as the Examination and Supervisory Privilege Parity Act of 2014 . 2. Privilege of information shared by certain nondepository covered persons Section 1024(b)(3) of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5514(b)(3) ) is amended— (1) by striking regulators and the State bank regulatory authorities and inserting regulators, the State bank regulatory authorities, and the State agencies that licence, supervise, or examine the offering of consumer financial products or services ; and (2) by adding at the end the following: The sharing of information with such regulators, authorities, and agencies shall not be construed as waiving, destroying, or otherwise affecting any privilege or confidentiality such person may claim with respect to such information under Federal or State law as to any person or entity other than such Bureau, agency, supervisor, or authority. .

Speaker of the House of Representatives. Vice President of the United States and President of the Senate.