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HR 653 112th Congress House Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Banking and financial institutions regulation Business records Consumer affairs Federal Reserve System Financial services and investments Government information and archives Right of privacy

Financial Information Privacy Act of 2011

Introduced: February 11, 2011 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 23, 2011
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Feb 11, 2011
Referred to the House Committee on Financial Services.
Feb 11, 2011
Introduced in House
 Plain-English summary Congressional Research Service

Financial Information Privacy Act of 2011 - Amends the Gramm-Leach-Bliley Act to require a financial institution, as a prerequisite to providing disclosures of a consumer's personal information to nonaffiliated third parties, to obtain the consumer's consent on an express consent form.

Prohibits a financial institution, except in certain circumstances, from discriminating against a consumer or denying an otherwise qualified consumer a financial product or service, or from offering a financial product or service on less favorable terms and conditions, because the consumer has not provided the express consent.

Prescribes the obligations of a financial institution regarding disclosure of a consumer's personal information to affiliates.

Directs the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection to develop a model disclosure form, meeting specified requirements, for financial institutions to use when seeking a consumer's consent to disclose nonpublic personal information.

What's happening now March 23, 2011

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Democratic 3