H.R.1262 - Consumer Right to Financial Privacy Act of 2015114th Congress (2015-2016)
|Sponsor:||Rep. Duffy, Sean P. [R-WI-7] (Introduced 03/04/2015)|
|Committees:||House - Financial Services|
|Latest Action:||House - 03/04/2015 Referred to the House Committee on Financial Services. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1262 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in House (03/04/2015)
Consumer Right to Financial Privacy Act of 2015
Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to revise the prohibition against the Consumer Financial Protection Bureau (CFPB)'s obtaining, from a covered person or service provider, any personally identifiable financial information about a consumer.
Prohibits the CFPB, in addition, from requesting, accessing, collecting, using, retaining, or disclosing nonpublic personal information about a consumer unless: (1) the CFPB clearly and conspicuously discloses to the consumer, in writing or in an electronic form, what information will be requested, obtained, accessed, collected, used, retained, or disclosed; and (2) the consumer informs the CFPB, before such information is requested, obtained, accessed, collected, used, retained, or disclosed, that such information may be requested, obtained, accessed, collected, used, retained, or disclosed.
Subjects to the same restrictions and conditions to any person directed or engaged by the CFPB to collect such information on its behalf.
Amends the Right to Financial Privacy Act of 1978 to repeal the exemption from its application for CFPB examination or disclosure of financial records or information in the exercise of CFPB authority with respect to a financial institution (thus applying the Act to CFPB examinations and disclosures).