House OKs Bill Loosening Bank Privacy Disclosure Rules

Law360, New York (December 14, 2017, 9:46 PM EST) -- The U.S. House of Representatives passed a bill Thursday that would loosen current requirements for banks to notify their customers of personal information policies, claiming the bill would reduce duplicative regulation despite concerns for abuse of the information.

The Privacy Notification Technical Clarification Act passed on a 275-146 vote Thursday, sending the measure to the Senate. The bill alters the provisions of the Gramm-Leach-Bliley Act, making it so that banks would have to notify their customers less often of their privacy policies.

Rep. Jeb Hensarling, R-Texas, chairman of the House Financial Services Committee, said the provisions would ultimately help cut down...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!