Data Privacy Act of 2023
Latest action · Dec 5, 2024 Placed on the Union Calendar, Calendar No. 673.
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 24, 2023
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Data Privacy Act of 2023
This bill addresses the privacy and security of personal information held by financial institutions. The bill expands the application of current protections, it provides individuals with controls for limiting the collection of their information, and it establishes data privacy standards nationwide.
Currently, financial institutions must protect personal information and provide notice about privacy practices. The bill expands personal information protections that currently apply to customers (individuals who have a continuing relationship with a financial institution) to consumers (individuals who have a more limited relationship with a financial institution, such as those who apply for but do not receive a loan). The bill also expands notice requirements to apply to the collection of individual data.
Under the bill, financial institutions must (1) inform individuals for what purpose their data is collected and how the data will be used, and (2) give individuals the opportunity to opt out of data collection. An individual may also end the sharing of the individual's data with third parties, as well as demand the deletion of the individual's data.
The bill also prohibits states from establishing different privacy protections than those at the federal level. Under current law, states are allowed to establish stricter privacy protections.
Cosponsors
Members who signed on, in the order they did.
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 24, 2023Markup Feb 28, 2023Reported Dec 6, 2024 |
Actions 6
Everything that happened, newest first.
- Dec 5, 2024Reported (Amended) by the Committee on Financial Services. H. Rept. 118-822.
- Dec 5, 2024Placed on the Union Calendar, Calendar No. 673.
- Feb 28, 2023Committee Consideration and Mark-up Session Held.
- Feb 28, 2023Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 26 - 21.
- Feb 24, 2023Introduced in House
- Feb 24, 2023Referred to the House Committee on Financial Services.
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.
Committee report
Congressional Budget Office cost estimate
- Jun 13, 2023H.R. 1165, Data Privacy Act of 2023As ordered reported by the House Committee on Financial Services on February 28, 2023
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 169, no. 36, February 24, 2023, page H876.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| S. Hrg. 118-694 | NOMINATIONS TO THE FEDERAL MARITIME COMMISSION102 pages | Commerce, Science, and Transportation Committee | Feb 28, 2024 |
CRS reports 3
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 3
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| IN12707 | Financial Data Privacy in the 119th Congress | Insight | Jul 14, 2026 |
| IN12376 | Banking Legislation in the 118th Congress | Insight | Jun 13, 2024 |
| R47434 | Banking, Data Privacy, and Cybersecurity Regulation | Report | Mar 13, 2023 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Gramm-Leach-Bliley Act to modernize the protection of the nonpublic personal information of individuals with whom financial institutions have customer or consumer relationship, and for other purposes.
- Short Title(s) as Introduced
- Data Privacy Act of 2023
- Short Title(s) as Reported to House
- Data Privacy Act of 2023
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 2
Each version as it was printed, newest first.
- Dec 5, 2024Reported in House
- Feb 24, 2023Introduced 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.
