This bill would exempt financial institutions from the requirement to annually disclose their policies and practices regarding customers’ private personal information if they meet specific criteria. Specifically, a financial institution would be exempt if they: 1) Haven’t changed their policies since their most recent disclosure; 2) Make those policies available online and upon request through the mail or over the telephone; and 3) Periodically notify customers of the availability of information on those policies and practices.
Why Jason Lewis’ vote conflicts with our values.
“This bill offers too big an exemption to the requirement that lenders notify customers each year about the policies regarding customers’ personal information. It should only apply to companies that share information with close, but unaffiliated third parties.” (Source: Countable)