LSCU COOP / Communication & Press Room / News Feed / Top Stories / Privacy Notice bill passes the House

Privacy Notice bill passes the House

This afternoon the U.S. House of Representatives passed H.R. 5817, the Eliminate Privacy Notice Confusion Act, by a voice vote. This legislation eliminates the requirement under the Gramm-Leach-Bliley Act that credit unions send out annual privacy notices. 

If H.R. 5817 becomes law, credit unions would only be required to send out these notices if their privacy policy is changed. CUNA and the LSCU supported this legislation. CUNA worked closely with the bill’s sponsors to generate support for the bill and secure its passage. 

The bill now moves to the Senate, where the hope is that it will be considered before the end of the year.