Section 1 Short title
This Act may be cited as the “Eliminate Privacy Notice Confusion Act”.
Eliminate Privacy Notice Confusion Act
AN ACT
To amend the Gramm-Leach-Bliley Act to provide an exception to the annual privacy notice requirement.
Sec. 2 Exception to annual privacy notice requirement under the Gramm-Leach-Bliley Act
Section 503 of the Gramm-Leach-Bliley Act (15 U.S.C. 6803) is amended by adding at the end the following:
“(f) Exception to annual notice requirement—A financial institution that—
“(1) provides nonpublic personal information only in accordance with the provisions of subsection (b)(2) or (e) of section 502 or regulations prescribed under section 504(b), and
“(2) has not changed its policies and practices with regard to disclosing nonpublic personal information from the policies and practices that were disclosed in the most recent disclosure sent to consumers in accordance with this section,”