Privacy Notice Modernization Act of 2015

1/11/2023, 1:28 PM

Privacy Notice Modernization Act of 2015

Amends the Gramm-Leach-Bliley Act to exempt from its annual written privacy policy notice requirement any financial institution which: (1) provides nonpublic personal information only in accordance with specified requirements, (2) has not changed its policies and practices with respect to disclosing nonpublic personal information from those disclosed in the most recent disclosure sent to consumers, and (3) otherwise provides customers access to such most recent disclosure in electronic or other form permitted by specified regulations.

Congress
114

Number
S - 423

Introduced on
2015-02-10

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

2/10/2015

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Privacy Notice Modernization Act of 2015

Amends the Gramm-Leach-Bliley Act to exempt from its annual written privacy policy notice requirement any financial institution which: (1) provides nonpublic personal information only in accordance with specified requirements, (2) has not changed its policies and practices with respect to disclosing nonpublic personal information from those disclosed in the most recent disclosure sent to consumers, and (3) otherwise provides customers access to such most recent disclosure in electronic or other form permitted by specified regulations.


Policy Areas
Finance and Financial Sector

Potential Impact
Banking and financial institutions regulation•
Consumer affairs•
Consumer credit•
Right of privacy

Comments

Recent Activity

Latest Summary2/24/2015

Privacy Notice Modernization Act of 2015

Amends the Gramm-Leach-Bliley Act to exempt from its annual written privacy policy notice requirement any financial institution which: (1) provides nonpublic personal information only in ac...


Latest Action2/12/2015
Committee on Banking, Housing, and Urban Affairs. Hearings held.