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S. 1458

BillFederalSenateIn Committee
Financial Institution Privacy Protection Act of 2003
About This Bill
Committee
Latest Action · July 25, 2003
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congress
108th (2003–2005)
Introduced
July 25, 2003
Cosponsors (0)
None
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Summary

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Financial Institution Privacy Protection Act of 2003 - Amends the Gramm-Leach-Bliley Act to condition financial institution disclosure of consumer nonpublic personal health information upon the consumer's affirmative consent in writing. Replaces the opt-out requirements governing such a disclosure with a prohibition against denial of a financial service or product to any consumer based upon the consumer's refusal to grant consent to nonpublic personal information disclosure. Requires each financial institution to designate a privacy compliance officer to ensure compliance with privacy requirements. Sets forth civil penalties for noncompliance.

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