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HR 2571 113th Congress House Finance and Financial Sector Banking and financial institutions regulation Business records Consumer affairs Government information and archives Right of privacy

Consumer Right to Financial Privacy Act of 2013

Introduced: June 28, 2013 See on congress.gov
 Everywhere this bill has been 7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 6, 2014
Placed on the Union Calendar, Calendar No. 254.
Feb 6, 2014
Reported by the Committee on Financial Services. H. Rept. 113-344.
Nov 21, 2013
Ordered to be Reported by the Yeas and Nays: 32 - 25.
Nov 21, 2013
Committee Consideration and Mark-up Session Held.
Oct 29, 2013
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Jun 28, 2013
Referred to the House Committee on Financial Services.
Jun 28, 2013
Introduced in House
 Plain-English summary Congressional Research Service

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Consumer Right to Financial Privacy Act of 2013 - (Sec. 1) Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to revise the prohibition against the Consumer Financial Protection Bureau (CFPB)'s obtaining, from a covered person or service provider, any personally identifiable financial information about a consumer.

(Sec. 2) Prohibits the CFPB, in addition, from requesting, accessing, collecting, using, retaining, or disclosing nonpublic personal information about a consumer unless: (1) the CFPB clearly and conspicuously discloses to the consumer, in writing or in an electronic form, what information will be requested, obtained, accessed, collected, used, retained, or disclosed; and (2) the consumer informs the CFPB, before such information is requested, obtained, accessed, collected, used, retained, or disclosed, that such information may be requested, obtained, accessed, collected, used, retained, or disclosed.

Subjects to the same restrictions and conditions any person directed or engaged by the CFPB to collect such information on its behalf.

(Sec. 3) Amends the Right to Financial Privacy Act of 1978 to repeal the exemption from its application for CFPB examination or disclosure of financial records or information in the exercise of CFPB authority with respect to a financial institution (thus applying the Act to CFPB examinations and disclosures).

What's happening now February 6, 2014

Placed on the Union Calendar, Calendar No. 254.

 Committees of jurisdiction 2