H.R.3559 - Insurance Data Protection Act112th Congress (2011-2012)
|Sponsor:||Rep. Stivers, Steve [R-OH-15] (Introduced 12/05/2011)|
|Committees:||House - Agriculture; Financial Services|
|Latest Action:||12/19/2011 Referred to the Subcommittee on General Farm Commodities and Risk Management.|
This bill has the status Introduced
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Summary: H.R.3559 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in House (12/05/2011)
Insurance Data Protection Act - Repeals the subpoena and enforcement powers of the Director of the Federal Insurance Office in the Department of the Treasury.
Declares that the sharing of any nonpublicly available data with or by the Office among other federal agencies, the state insurance regulators and their collective agents, or other entities does not affect any federal or state confidentiality privilege arising under federal or state law to which such data or information is otherwise subject.
Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to exempt an insurance company from the subpoena powers of the Director of the Office of Financial Research in the Treasury.
Prescribes the treatment of data collected by financial regulators from a nonbank financial company that is an insurance company, including confidentiality procedures and agency disclosure requirements.