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HR 1262 114th 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 2015

Introduced: March 4, 2015 See on congress.gov
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 4, 2015
Referred to the House Committee on Financial Services.
Mar 4, 2015
Introduced in House
 Plain-English summary Congressional Research Service

Consumer Right to Financial Privacy Act of 2015

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.

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 to any person directed or engaged by the CFPB to collect such information on its behalf.

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 March 4, 2015

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1