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15 U.S.C. § 6808Study of information sharing among financial affiliates

submitted 27 years ago by Pub. L. 106-102 to r/title-15-COMMERCE-AND-TRADE · 272 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain
(a) In general

The Secretary of the Treasury, in conjunction with the Federal functional regulators and the Federal Trade Commission, shall conduct a study of information sharing practices among financial institutions and their affiliates. Such study shall include—

(1)

the purposes for the sharing of confidential customer information with affiliates or with nonaffiliated third parties;

(2)

the extent and adequacy of security protections for such information;

(3)

the potential risks for customer privacy of such sharing of information;

(4)

the potential benefits for financial institutions and affiliates of such sharing of information;

(5)

the potential benefits for customers of such sharing of information;

(6)

the adequacy of existing laws to protect customer privacy;

(7)

the adequacy of financial institution privacy policy and privacy rights disclosure under existing law;

(8)

the feasibility of different approaches, including opt-out and opt-in, to permit customers to direct that confidential information not be shared with affiliates and nonaffiliated third parties; and

(9)

the feasibility of restricting sharing of information for specific uses or of permitting customers to direct the uses for which information may be shared.

(b) Consultation

The Secretary shall consult with representatives of State insurance authorities designated by the National Association of Insurance Commissioners, and also with financial services industry, consumer organizations and privacy groups, and other representatives of the general public, in formulating and conducting the study required by subsection (a).

(c) Report

On or before January 1, 2002, the Secretary shall submit a report to the Congress containing the findings and conclusions of the study required under subsection (a), together with such recommendations for legislative or administrative action as may be appropriate.

Source credit: (Pub. L. 106–102, title V, § 508, Nov. 12, 1999, 113 Stat. 1442.)

history & why it existsrecord from the source credit
  • 1999Enacted · Pub. L. 106-102 · 113 Stat. 1442

A history note hasn’t been published yet. The record shows enactment by Pub. L. 106-102 on 1999-11-12.

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