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US. GOVERNMENT
INFORMATION
GPO
115TH CONGRESS REPT. 115-678
2d Session HOUSE OF REPRESENTATIVES Part 1
PREVENTION OF PRIVATE INFORMATION DISSEMINATION
ACT OF 2017
MAY 15, 2018.-Ordered to be printed
Mr. HENSARLING, from the Committee on Financial Services,
submitted the following
REPORT
[To accompany H.R. 4294]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 4294) to amend the Financial Stability Act of 2010 to pro-
vide a criminal penalty for unauthorized disclosures of certain indi-
vidually identifiable information by officers or employees of a Fed-
eral department or agency, having considered the same, report fa-
vorably thereon without amendment and recommend that the bill
do pass.
PURPOSE AND SUMMARY
Introduced by Representative David Kustoff on November 8,
2017, H.R. 4294, the Prevention of Private Information Dissemina-
tion Act of 2017 establishes criminal penalties for the unauthor-
ized disclosure by federal officials of living will and stress test de-
terminations and other individually identifiable information, spe-
cifically with respect to an officer or employee of a federal financial
regulatory agency who willfully makes an unauthorized disclosure
of certain individually identifiable information or a person who
willfully requests or obtains such information under false pre-
tenses.
BACKGROUND AND NEED FOR LEGISLATION
Section 165 of the Dodd-Frank Wall Street Reform and Con-
sumer Protection Act (Dodd-Frank Act) requires bank holding
companies (BHCs) with total consolidated assets of $50 billion or
more (also known as systemically-important financial institutions
(SIFIs)), and nonbank financial companies designated by the Fi-
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