Privacy Notification Technical Clarification Act

Bill: 115-hr-2396
Sponsor: full_name: Rep. Trott, David A. [R-MI-11]
Introduced: 2017-05-04
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation

Consumer affairs

Consumer credit

Right of privacy
Latest action: action_date: 2017-12-18
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2017-05-04
action_desc: Introduced in House
text: <p><b>Privacy Notification Technical Clarification Act</b></p> <p>This bill amends the Gramm-Leach-Bliley Act to exempt a financial institution, under specified circumstances, from the requirement&nbsp;to annually disclose its&nbsp;privacy policies to consumers. A financial institution&nbsp;shall be&nbsp;exempt from such requirement if: (1) the institution has not changed its privacy policies since its last disclosure, (2) the current policy is available on its website and via mail, and (3) notice is provided to customers regarding availability of the institution's privacy policies.</p>

action_date: 2017-12-04
action_desc: Reported to House with amendment(s)
text: <p><b>Privacy Notification Technical Clarification Act</b></p> <p>This bill amends the Gramm-Leach-Bliley Act to exempt a financial institution, under specified circumstances, from the requirement&nbsp;to annually disclose its&nbsp;privacy policies to consumers. A financial institution&nbsp;shall be&nbsp;exempt from such requirement if: (1) the institution has not changed its privacy policies since its last disclosure, (2) the current policy is available on its website and via mail, and (3) notice is provided to customers regarding availability of the institution's privacy policies.</p>

action_date: 2017-12-14
action_desc: Passed House amended
text: <p><b>Privacy Notification Technical Clarification Act</b></p> <p>(Sec. 2) This bill amends the Gramm-Leach-Bliley Act to exempt a vehicle financial company, under specified circumstances, from the requirement&nbsp;to annually disclose its&nbsp;privacy policies to consumers. A vehicle financial company&nbsp;shall be&nbsp;exempt from such requirement if: (1) the company has not changed its privacy policies since its last disclosure, (2) the current policy is available on its website and via mail, (3) notice is provided to customers regarding availability of the company's privacy policies, and (4) the company gives customers the ability to opt out of having personal information disclosed to third parties.</p>

tv_txt: I 115th CONGRESS 1st Session H. R. 2396 IN THE HOUSE OF REPRESENTATIVES May 4, 2017 Mr. Trott (for himself and Mr. Clay ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Gramm-Leach-Bliley Act to update the exception for certain annual notices provided by financial institutions.

1. Short title This Act may be cited as the Privacy Notification Technical Clarification Act . 2. Exception to annual notice requirement Section 503(f) of the Gramm-Leach-Bliley Act ( 15 U.S.C. 6803(f) ) is amended by adding at the end the following: or— (2) A financial institution that— (A) has not changed its policies and practices with regard to disclosing nonpublic information from the policies and practices that were disclosed in the most recent disclosures sent to consumers in accordance with this section, shall not be required to provide an annual disclosure under this section until such time as the financial institution has changed its policies and practices with regard to disclosing nonpublic information from the policies and practices that were disclosed in the most recent disclosures sent to consumers in accordance with this section, provided, (B) the financial institution makes its current policy available to consumers on its website and via mail upon written request sent to a designated address identified for the purpose of requesting the policy or upon telephone request made using a toll free customer service telephone number; and (C) the financial institution conspicuously notifies customers of the availability of the current policy including a message on or with each periodic billing statement for customers who are entitled to periodic billing statements. For customers and consumers who are not entitled to periodic billing statements, the financial institution shall conspicuously notify customers and consumers of the availability of the current policy through other reasonable means such as on its website or with other written communication, including electronic communication, sent to the consumer. (D) If a financial institution maintains more than one policy that varies depending on the consumer’s account status or state of residence, the financial institution may comply with the website posting requirement in subparagraph (B) by posting all of its notices to the public section of its website with instructions for choosing the applicable notice. .

tv_txt: IB 115th CONGRESS 1st Session H. R. 2396 IN THE HOUSE OF REPRESENTATIVES AN ACT To amend the Gramm-Leach-Bliley Act to update the exception for certain annual notices provided by financial institutions.

1. Short title This Act may be cited as the Privacy Notification Technical Clarification Act . 2. Exception to annual notice requirement Section 503 of the Gramm-Leach-Bliley Act ( 15 U.S.C. 6803 ) is amended by adding at the end the following: (g) Additional exception to annual notice requirement (1) In general A vehicle financial company that has not changed its policies and practices with regard to disclosing nonpublic personal information from the policies and practices that were disclosed in the most recent disclosure sent to consumers in accordance with this section shall not be required to provide an annual disclosure under this section if— (A) the vehicle financial company makes its current policy available to consumers on its website and via mail upon written request sent to a designated address identified for the purpose of requesting the policy or upon telephone request made using a toll free consumer service telephone number; (B) the vehicle financial company conspicuously notifies consumers of the availability of the current policy, including— (i) with respect to consumers who are entitled to a periodic billing statement, a message on the front page of each periodic billing statement; and (ii) with respect to consumers who are not entitled to a periodic billing statement, through other reasonable means such as through a link on the landing page of the company’s website or with other written communication, including electronic communication, sent to the consumer; and (C) the vehicle financial company— (i) provides consumers with the ability to opt out, subject to any exemption or exception provided under subsection (b)(2) or (e) of section 502 or under regulations prescribed under section 504(b), of having the consumer’s nonpublic personal information disclosed to a nonaffiliated third party; and (ii) includes a description about where to locate the procedures for a consumer to select such opt out in each periodic billing statement sent to the consumer. (2) Treatment of multiple policies If a vehicle financial company maintains more than one set of policies described under paragraph (1) that vary depending on the consumer’s account status or State of residence, the vehicle financial company may comply with the website posting requirement in paragraph (1)(A) by posting all of such policies to the public section of the vehicle financial company’s website, with instructions for choosing the applicable policy. (3) Vehicle financial company defined For purposes of this subsection, the term vehicle financial company means— (A) a financial institution that— (i) is regularly engaged in the business of extending credit for the purchase of vehicles; (ii) is affiliated with a vehicle manufacturer; and (iii) only shares nonpublic personal information of consumers with nonaffiliated third parties that are vehicle dealers; or (B) a financial institution that— (i) regularly engages in the business of extending credit for the purchase or lease of vehicles from vehicle dealers; or (ii) purchases vehicle installment sales contracts or leases from vehicle dealers. .

Passed the House of Representatives December 14, 2017. Karen L. Haas, Clerk.

tv_txt: IIB 115th CONGRESS 1st Session H. R. 2396 IN THE SENATE OF THE UNITED STATES December 18, 2017 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To amend the Gramm-Leach-Bliley Act to update the exception for certain annual notices provided by financial institutions.

1. Short title This Act may be cited as the Privacy Notification Technical Clarification Act . 2. Exception to annual notice requirement Section 503 of the Gramm-Leach-Bliley Act ( 15 U.S.C. 6803 ) is amended by adding at the end the following: (g) Additional exception to annual notice requirement (1) In general A vehicle financial company that has not changed its policies and practices with regard to disclosing nonpublic personal information from the policies and practices that were disclosed in the most recent disclosure sent to consumers in accordance with this section shall not be required to provide an annual disclosure under this section if— (A) the vehicle financial company makes its current policy available to consumers on its website and via mail upon written request sent to a designated address identified for the purpose of requesting the policy or upon telephone request made using a toll free consumer service telephone number; (B) the vehicle financial company conspicuously notifies consumers of the availability of the current policy, including— (i) with respect to consumers who are entitled to a periodic billing statement, a message on the front page of each periodic billing statement; and (ii) with respect to consumers who are not entitled to a periodic billing statement, through other reasonable means such as through a link on the landing page of the company’s website or with other written communication, including electronic communication, sent to the consumer; and (C) the vehicle financial company— (i) provides consumers with the ability to opt out, subject to any exemption or exception provided under subsection (b)(2) or (e) of section 502 or under regulations prescribed under section 504(b), of having the consumer’s nonpublic personal information disclosed to a nonaffiliated third party; and (ii) includes a description about where to locate the procedures for a consumer to select such opt out in each periodic billing statement sent to the consumer. (2) Treatment of multiple policies If a vehicle financial company maintains more than one set of policies described under paragraph (1) that vary depending on the consumer’s account status or State of residence, the vehicle financial company may comply with the website posting requirement in paragraph (1)(A) by posting all of such policies to the public section of the vehicle financial company’s website, with instructions for choosing the applicable policy. (3) Vehicle financial company defined For purposes of this subsection, the term vehicle financial company means— (A) a financial institution that— (i) is regularly engaged in the business of extending credit for the purchase of vehicles; (ii) is affiliated with a vehicle manufacturer; and (iii) only shares nonpublic personal information of consumers with nonaffiliated third parties that are vehicle dealers; or (B) a financial institution that— (i) regularly engages in the business of extending credit for the purchase or lease of vehicles from vehicle dealers; or (ii) purchases vehicle installment sales contracts or leases from vehicle dealers. .

Passed the House of Representatives December 14, 2017. Karen L. Haas, Clerk

tv_txt: IB Union Calendar No. 321 115th CONGRESS 1st Session H. R. 2396 [Report No. 115–434] IN THE HOUSE OF REPRESENTATIVES May 4, 2017 Mr. Trott (for himself and Mr. Clay ) introduced the following bill; which was referred to the Committee on Financial Services December 4, 2017 Additional sponsors: Mr. Sherman , Mr. Luetkemeyer , Mr. Meeks , Mr. Messer , Mr. Rothfus , and Mr. Gonzalez of Texas December 4, 2017 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed Strike out all after the enacting clause and insert the part printed in italic For text of introduced bill, see copy of bill as introduced on May 4, 2017 A BILL To amend the Gramm-Leach-Bliley Act to update the exception for certain annual notices provided by financial institutions.

1. Short title This Act may be cited as the Privacy Notification Technical Clarification Act . 2. Exception to annual notice requirement Section 503 of the Gramm-Leach-Bliley Act ( 15 U.S.C. 6803 ) is amended by adding at the end the following: (g) Additional exception to annual notice requirement (1) In general A financial institution that has not changed its policies and practices with regard to disclosing nonpublic personal information from the policies and practices that were disclosed in the most recent disclosure sent to consumers in accordance with this section shall not be required to provide an annual disclosure under this section if— (A) the financial institution makes its current policy available to consumers on its website and via mail upon written request sent to a designated address identified for the purpose of requesting the policy or upon telephone request made using a toll free consumer service telephone number; and (B) the financial institution conspicuously notifies consumers of the availability of the current policy, including— (i) with respect to consumers who are entitled to a periodic billing statement, a message on or with each periodic billing statement; and (ii) with respect to consumers who are not entitled to a periodic billing statement, through other reasonable means such as on its website or with other written communication, including electronic communication, sent to the consumer. (2) Treatment of multiple policies If a financial institution maintains more than one set of policies described under paragraph (1) that vary depending on the consumer’s account status or State of residence, the financial institution may comply with the website posting requirement in paragraph (1)(A) by posting all of such policies to the public section of the financial institution’s website, with instructions for choosing the applicable policy. .

December 4, 2017 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed