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![handle is hein.congrecreports/crptxabfn0001 and id is 1 raw text is: AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
Op
115TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 115-663
AMERICAN CUSTOMER INFORMATION PROTECTION ACT
MAY 7, 2018.-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. 4785]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 4785) to prohibit the consolidated audit trail from accept-
ing personally identifying information, and for other purposes, hav-
ing considered the same, report favorably thereon without amend-
ment and recommend that the bill do pass.
PURPOSE AND SUMMARY
On January 12, 2018, Representative Bill Huizenga introduced
H.R. 4785, the American Customer Information Protection Act to
help protect highly sensitive personal information of Americans.
H.R. 4785 prohibits the Consolidated Audit Trail (CAT) authorized
in 2012 by the Securities and Exchange Commission (SEC) from
accepting Personally Identifiable Information (PII), except where
such information would apply to large traders under the SEC's
large trader reporting rule. Under the legislation, social security
numbers, individual taxpayer identification numbers, other cus-
tomer identifying information sufficient to identify an individual,
such as names, addresses, dates of birth, account numbers, and
any other information the Commission determines could be defined
as PII will not be reported to the CAT.
79-006](ViewImageLocal?handle=hein.congrecreports/crptxabfn0001&div=1&collection=&method=preview&ext=.png&size=3)