HR 2730
107th Congress
House
Finance and Financial Sector
Bank records
Civil Rights and Liberties, Minority Issues
Commerce
Consumer credit
Federal preemption
Financial institutions
Government Operations and Politics
Insurance companies
Right of privacy
State laws
National Consumer Privacy Act
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 24, 2001
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Aug 2, 2001
Referred to the House Committee on Financial Services.
Aug 2, 2001
Introduced in House
Plain-English summary
National Consumer Privacy Act - Amends the Gramm-Leach-Bliley Act (the Act) to prohibit the States from imposing any requirement or prohibition upon either financial institutions, or upon recipients of nonpublic personal information from such institutions, with respect to financial privacy concerns currently regulated by the Act's privacy guidelines (thus establishing Federal preemption of financial privacy standards for financial institutions). Exempts from this preemption the authority of a State insurance authority to prescribe regulations and enforce related Federal law.
Amends the Fair Credit Reporting Act regarding Federal preemption of consumer credit privacy guidelines to: (1) provide that such preemption shall not affect certain settlements, agreements, or consent judgments between a State Attorney General and a consumer reporting agency; and (2) preempt certain State law that explicitly states its intention to supplement such Federal privacy guidelines, and grant greater protection to consumers than is provided under the Federal guidelines.
What's happening now
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Committees of jurisdiction
2