BPI Sends Letter in Support of the Consumer Information Notification Requirement Act

On September 13, the Bank Policy Institute sent a letter to leadership of the House Financial Services Committee in support of the H.R. 6743, the Consumer Information Notification Requirement Act.  The bill would put in place uniform consumer notification standards across all Gramm-Leach-Bliley Act (GLBA) regulatory agencies and would preempt state and local data protection and consumer notification standards with respect to financial institutions subject to the GLBA.  BPI supports Congressional efforts to enact a single, high standard for data security and data breach notification believes H.R. 6743 represents an important step towards that goal.  BPI further encouraged Congress to consider legislation that would apply a national standard beyond the financial services sector to create a consistent framework to protect consumer data.