SCS HB 801 -- DISCLOSURE OF PERSONAL INFORMATION BY FINANCIAL
INSTITUTIONS

This bill establishes compliance with the Federal Gramm-Leach--
Bliley Act of 1999.  The federal act adopts minimum standards
prohibiting certain disclosures of nonpublic personal
information by financial institutions to third parties and
allows states to adopt more stringent rules.  The bill allows
any state agency that regulates financial institutions to adopt
rules that are no more restrictive than the minimum standards
established in the federal act.  In addition, financial
institutions required by federal law to report their privacy
policy to their consumers must do so upon the establishment of
the customer relationship for all new customers, or by June 30,
2002, for all existing customers.

The bill contains an emergency clause.

Missouri House of Representatives
Last Updated November 26, 2001 at 11:45 am