American Financial Services Association

Privacy Notice Bill Clears House on Bipartisan Vote

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Privacy Notice Bill Clears House on Bipartisan Vote

Legislation would bring needed relief to AFSA member companies

Today, the House of Representatives passed H.R. 2396 the Privacy Notification Technical Clarification Act by a vote of 275-146. Forty-four Democrats voted in favor of the bill.

H.R. 2396 would significantly ease the annual notification burden on vehicle finance companies. AFSA has been a strong advocate for the bill and is pleased to see its passage. The legislation was introduced by Reps. Dave Trott (R-Mich.) and Lacy Clay (D-Mo.), along with six other bipartisan cosponsors, in May.

The legislation provides an electronic delivery mechanism for annual privacy notice disclosures. Rather than annually mailing a privacy notice containing policies that have not changed, a vehicle finance company can make the policy available on the company’s website. A consumer can receive the notice by mail upon request in writing or by telephone. The company must also provide information about where to locate procedures to opt-out on each billing statement.

AFSA will continue to advocate for the bill as it moves to the Senate.

December 14th, 2017 by