Congress – Rep. Jackie Speier (D-CA-12) introduced the “Financial Information Privacy Act” (H.R. 653), which would amend the Gramm-Leach-Bliley Act to require that financial institutions obtain consumers’ express, opt-in consent before disclosing nonpublic personal information to nonaffiliated third parties.
H.R. 653 also would prevent financial institutions from sharing such information with their affiliates without first providing consumers with notice and an opportunity to opt out.
MRA will seek to amend or defeat H.R. 653 in order to protect financial survey and opinion research.