PlainBillCongress, translated.Legislation. Context. Public interest.Congressional Research Service
Version 00 · Introduced in Senate · Jan 19, 1999
Financial Information Privacy Act of 1999 - Directs the Federal financial regulatory authorities (banking regulatory agencies and the Securities and Exchange Commission (SEC)) to jointly issue final rules to protect the privacy of confidential information relating to customers of institutions under their respective jurisdictions (covered institution). Mandates that such rules: (1) prohibit a covered institution from disclosing or sharing confidential customer information with any affiliate or agent if the customer has provided a written notice which forbids such disclosure; (2) prohibit a covered institution from disclosing or sharing confidential customer information with a non-affiliate or non-agent unless the customer has provided written or electronic consent; (3) require the covered institution to disclose to the customer the specific type of information disclosed or shared, under what circumstances, to what specific types of businesses, and for what types of purposes; (4) require customer access to information that could be disclosed so that it may be reviewed for accuracy and supplementation; and (5) establish a compliance and enforcement mechanism that includes consumer complaint resolution. Cites circumstances under which such information may be released.
People & committees
Sen. Sarbanes, Paul S. [D-MD] · D–MD
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Committee on Banking. Hearings held.
Read twice and referred to the Committee on Banking.
Sponsor introductory remarks on measure. (CR S614-616)
Introduced in Senate
Primary sources
Text links open the official source. We currently store references to these documents.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 20, 2025. Consult Congress.gov for the current record.
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Analyze S.187 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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