H.R.6125 - To amend the Federal Deposit Insurance Act and the Federal Credit Union Act with respect to privilege of information provided to Federal and State agencies, and for other purposes.112th Congress (2011-2012)
|Sponsor:||Rep. Renacci, James B. [R-OH-16] (Introduced 07/12/2012)|
|Committees:||House - Financial Services|
|Latest Action:||07/31/2012 Referred to the Subcommittee on Financial Institutions and Consumer Credit. (All Actions)|
|Notes:||For further action, see H.R.4014, which became Public Law 112-215 on 12/20/2012.|
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Summary: H.R.6125 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in House (07/12/2012)
Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to declare that certain federal agencies ("covered agencies") shall not be deemed to have waived any confidentiality applicable to information by either transferring such information to, or permitting it to be used by, another covered agency or specified federal agencies.
Includes among "covered agencies": (1) the Consumer Financial Protection Bureau (CFPB), (2) state bank and financial company supervisors, and (3) certain licensing and registry systems established under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008.
Defines "confidentiality" to include any work-product, attorney-client, or other privilege recognized under federal or state law.
Shields also from the waiver of confidentiality any information submitted by a person to either a federal banking agency, the CFPB, a state bank supervisor, or foreign banking authority in the course of its supervisory or regulatory process.