[Congressional Bills 113th Congress] [From the U.S. Government Publishing Office] [H.R. 749 Introduced in House (IH)] 113th CONGRESS 1st Session H. R. 749 To amend the Gramm-Leach-Bliley Act to provide an exception to the annual privacy notice requirement. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES February 15, 2013 Mr. Luetkemeyer (for himself, Mr. Sherman, Mr. Huizenga of Michigan, Mr. Graves of Missouri, Mr. Meeks, Mr. Westmoreland, Mr. Hinojosa, Ms. Norton, Mr. Michaud, Mr. Renacci, Mr. Royce, Mr. Owens, Mr. Gosar, Mr. Peters of Michigan, Mrs. McCarthy of New York, Mr. Stivers, Mr. Hastings of Florida, Mr. Ben Ray Lujan of New Mexico, and Mr. Wilson of South Carolina) introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To amend the Gramm-Leach-Bliley Act to provide an exception to the annual privacy notice requirement. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Eliminate Privacy Notice Confusion Act''. 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, shall not be required to provide an annual disclosure under this section until such time as the financial institution fails to comply with any criteria described in paragraph (1) or (2).''. <all>