Financial Information Privacy Act of 2011
Latest action · Mar 23, 2011 Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedFeb 11, 2011
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors 8
Members who signed on, in the order they did. Signatures ran from Feb 11, 2011 to Jun 7, 2012; 2 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-FL | Alcee L. Hastings | Original | Feb 11, 2011 |
| D-CA | Bob Filner | Original | Feb 11, 2011 |
| D-IL | Janice D. Schakowsky | Mar 17, 2011 | |
| D-CA | John Garamendi | Mar 17, 2011 | |
| D-AZ | Raúl M. Grijalva | Mar 30, 2011 | |
| D-NC | Brad Miller | Apr 7, 2011 | |
| D-DC | Eleanor Holmes Norton | Apr 14, 2011 | |
| D-NC | David E. Price | Jun 7, 2012 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Feb 11, 2011 |
| Consumer Protection and Financial Institutions Subcommittee | Referred Mar 23, 2011 |
Actions 3
Everything that happened, newest first.
- Mar 23, 2011Referred to the Subcommittee on Financial Institutions and Consumer Credit.
- Feb 11, 2011Introduced in House
- Feb 11, 2011Referred to the House Committee on Financial Services.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Lists H724H.R. 653-683 | — | Feb 11, 2011 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the page H724.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Gramm-Leach-Bliley Act to improve regulations dealing with the disclosure by financial institutions of nonpublic personal information, and for other purposes.
- Short Titles as Introduced
- Financial Information Privacy Act of 2011
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Feb 11, 2011Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
