H.R. 5062 — Referred from Senate

IIB 113th CONGRESS 2d Session H. R. 5062 IN THE SENATE OF THE UNITED STATES July 30, 2014Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To amend the Consumer Financial Protection Act of 2010 to specify that privilege and confidentiality are maintained when information is shared by certain nondepository covered persons with Federal and State financial regulators, and for other purposes. 1. Short title This Act may be cited as the Examination and Supervisory Privilege Parity Act of 2014. 2. Privilege of information shared by certain nondepository covered persons Section 1024(b)(3) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5514(b)(3)) is amended— (1) by striking regulators and the State bank regulatory authorities and inserting regulators, the State bank regulatory authorities, and the State agencies that licence, supervise, or examine the offering of consumer financial products or services; and (2) by adding at the end the following: The sharing of information with such regulators, authorities, and agencies shall not be construed as waiving, destroying, or otherwise affecting any privilege or confidentiality such person may claim with respect to such information under Federal or State law as to any person or entity other than such Bureau, agency, supervisor, or authority.. Passed the House of Representatives July 29, 2014.Karen L. Haas,Clerk