Accession Number PB2014-103297
Title Privacy Protection for Customer Financial Information, January 9, 2014.
Publication Date Jan 2014
Media Count 9p
Personal Author M. M. Murphy
Abstract One of the functions transferred to the Consumer Financial Protection Bureau (CFPB) under P.L. 111-203, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), is authority to issue regulations and take enforcement actions under the two major federal statutes that specify conditions under which customer financial information may be shared by financial institutions: Title V of the Gramm-Leach-Bliley Act of 1999 (GLBA, P.L. 106-102) and the Fair Credit Reporting Act (FCRA). Possible topics for congressional oversight in the 113th Congress include (1) the transition of power from the financial institution prudential regulators and the Federal Trade Commission to the CFPB; (2) CFPBs interaction with other federal regulators and coordination with state enforcement efforts; and (3) the CFPBs success at issuing rules that adequately protect consumers without unreasonably increasing the regulatory burden on financial institutions.
Keywords Consumer Financial Protection Board(CFPB)
Federal law
Financial institutions
Financial statements
Personal privacy

Source Agency Congressional Research Service
NTIS Subject Category 96 - Business & Economics
70D - Personnel Management, Labor Relations & Manpower Studies
92D - Education, Law, & Humanities
Corporate Author Congressional Research Service, Washington, DC.
Document Type Technical report
Title Note Rept. to Congress.
NTIS Issue Number 1409
Contract Number N/A

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