PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Banking.
Congressional Research Service
Version 00 · Introduced in Senate · Sep 2, 1998
Financial Information Privacy Act - Amends the Consumer Credit Protection Act to: (1) specify the types of enterprises constituting a financial institution within its purview; and (2) authorize the Board of Governors of the Federal Reserve System to prescribe regulations clarifying or describing the types of institutions which shall be treated as financial institutions for purposes of this Act. Declares it a violation of this Act to obtain or disclose under false pretenses customer information of a financial institution. Grants the Federal Trade Commission (FTC), certain banking regulatory agencies, and the States enforcement powers under this Act. Subjects violations of this Act to civil liability for damages and Federal criminal penalties. Requires each Federal banking agency to issue advisories to depository institutions within its purview in order to assist in deterring and detecting the acts proscribed by this Act. Requires the Comptroller General to report to the Congress on: (1) the efficacy and adequacy of the remedies provided in this Act; and (2) recommendations for additional action to address threats to the privacy of financial information.
People & committees
Sen. D'Amato, Alfonse [R-NY] · R–NY
Legislative record
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Read twice and referred to the Committee on Banking.
Sponsor introductory remarks on measure. (CR S9879-9880)
Introduced in Senate
Primary sources
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Source last updated: Aug 21, 2025. Consult Congress.gov for the current record.
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Analyze S.2433 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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