United States 112th Congress Status: Died 1 D cosponsors

HR 653 — Financial Information Privacy Act of 2011

Last action — Referred to the Subcommittee on Financial Institutions and Consumer Credit.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Financial Information Privacy Act of 2011 - Amends the Gramm-Leach-Bliley Act to require a financial institution, as a prerequisite to providing disclosures of a consumer's personal information to nonaffiliated third parties, to obtain the consumer's consent on an express consent form. Prohibits a financial institution, except in certain circumstances, from discriminating against a consumer or denying an otherwise qualified consumer a financial product or service, or from offering a financial product or service on less favorable terms and conditions, because the consumer has not provided the express consent. Prescribes the obligations of a financial institution regarding disclosure of a consumer's personal information to affiliates. Directs the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection to develop a model disclosure form, meeting specified requirements, for financial institutions to use when seeking a consumer's consent to disclose nonpublic personal information.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 653 on the official United States source →

Action History

  1. Referred to the Subcommittee on Financial Institutions and Consumer Credit.

  2. Referred to the House Committee on Financial Services.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance
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Frequently asked questions

What does HR 653 do?
Financial Information Privacy Act of 2011 - Amends the Gramm-Leach-Bliley Act to require a financial institution, as a prerequisite to providing disclosures of a consumer's personal information to nonaffiliated third parties, to obtain the consumer's consent on an express consent form. Prohibits a financial institution, except in certain circumstances, from discriminating against a consumer or denying an otherwise qualified consumer a financial product or service, or from offering a financial product or service on less favorable terms and conditions, because the consumer has not provided the express consent. Prescribes the obligations of a financial institution regarding disclosure of a consumer's personal information to affiliates. Directs the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection to develop a model disclosure form, meeting specified requirements, for financial institutions to use when seeking a consumer's consent to disclose nonpublic personal information.
Who sponsors HR 653?
HR 653 is sponsored by Jackie Speier (D).
What is the current status of HR 653?
This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 653?
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