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![handle is hein.congrecreports/crptxaavd0001 and id is 1 raw text is: AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
Gp
115TH CONGRESS REPORT
1st Session HOUSE OF REPRESENTATIVES 115-434
PRIVACY NOTIFICATION TECHNICAL CLARIFICATION ACT
DECEMBER 4, 2017.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. HENSARLING, from the Committee on Financial Services,
submitted the following
REPORT
together with
MINORITY VIEWS
[To accompany H.R. 2396]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 2396) to amend the Gramm-Leach-Bliley Act to update
the exception for certain annual notices provided by financial insti-
tutions, having considered the same, report favorably thereon with
an amendment and recommend that the bill as amended do pass.
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the Privacy Notification Technical Clarification Act.
SEC. 2. EXCEPTION TO ANNUAL NOTICE REQUIREMENT.
Section 503 of the Gramm-Leach-Bliley Act (15 U.S.C. 6803) is amended by add-
ing at the end the following:
(g) ADDITIONAL EXCEPTION TO ANNUAL NOTICE REQUIREMENT.-
(1) IN GENERAL.-A financial institution that has not changed its policies and
practices with regard to disclosing nonpublic personal information from the poli-
cies and practices that were disclosed in the most recent disclosure sent to con-
sumers in accordance with this section shall not be required to provide an an-
nual disclosure under this section if-
(A) the financial institution makes its current policy available to con-
sumers on its website and via mail upon written request sent to a des-
ignated address identified for the purpose of requesting the policy or upon
telephone request made using a toll free consumer service telephone num-
ber; and
(B) the financial institution conspicuously notifies consumers of the
availability of the current policy, including-
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