PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Congressional Research Service
Version 00 · Introduced in House · Aug 2, 2001
Consumer's Right to Financial Privacy Act - Amends the Gramm-Leach-Bliley Act to revamp financial institution obligations regarding disclosures of personal information sharing. Prohibits such institutions from either disclosing, or making unrelated use, of nonpublic personal information collected in a consumer transaction unless the institution has notified the consumer. Requires the consumer's affirmative consent (opt-in) to any such information sharing between a financial institution, its affiliates, or any other person that is neither an employee or agent of such institution.Mandates that designated regulatory agencies promulgate regulations that: (1) require affirmative consumer consent as a prerequisite to any information sharing by a financial institution; (2) prohibit a financial institution from denying a product or service to a consumer who has denied consent to such information transfer; and (3) require consumer access and opportunity to dispute nonpublic personal information made available by the institution to persons other than its own personnel.Prohibits a financial institution from disclosing a consumer's access number or code to an affiliated or nonaffiliated third party for use in telemarketing, direct mail marketing, or other marketing through electronic mail to the consumer.Restricts nonpublic personal information received from a financial institution by an affiliate or nonaffiliated third party from being further disclosed to another affiliate or nonaffiliated third party of both the financial institution and such recipient.Prohibits obtaining, or soliciting a person to obtain, customer information from a financial institution under false pretenses.
People & committees
Rep. Markey, Edward J. [D-MA-7] · D–MA
Legislative record
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Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 19, 2025. Consult Congress.gov for the current record.
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Analyze H.R.2720 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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