House OKs Bill Eliminating Privacy Notice Confusion

Law360, New York (April 15, 2010, 12:51 PM EDT) -- The U.S. House of Representatives has approved legislation that would exempt financial institutions from having to send out annual privacy policy notices if they are already barred from sharing personal customer data, reconciling a conflict between two laws in an attempt to reduce unnecessary junk mail.

House members on Wednesday agreed to suspend the rules and pass by voice vote H.R. 3506, the Eliminate Privacy Notice Confusion Act, sponsored by Reps. Dennis Moore, D-Kansas; Erik Paulsen, R-Minn.; and Peter Roskam, R-Ill.

The bill's sponsors said it...
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