To amend the Gramm-Leach-Bliley Act to modernize the protection of the nonpublic personal information of individuals with whom financial institutions have customer or consumer relationship, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Gramm-Leach-Bliley Act to modernize the protection of the nonpublic personal information of individuals with whom financial institutions have customer or consumer relationship, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Technology, Foreign Policy.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H3A889B5B09FF4D2EA393A965870F431C: 1. Short title; table of contents This Act may be cited as the Data Privacy Act of 2023. The table of contents for this Act is as follows:
- Section H60AF55F1222643E588F8D1CF27CED6C3: 2. Protection of nonpublic personal information Section 501 of the Gramm-Leach-Bliley Act (15 U.S.C. 6801) is amended— in subsection (a)— by striking of its...
- Section H16DB8481B6F94D22887BB43D7FBD98AD: 3. Obligations with respect to the collection and disclosure of nonpublic personal information Section 502 of the Gramm-Leach-Bliley Act (15 U.S.C. 6802) is...
- Section H7EAB2DD078674D88A8FDBDBC8D16A127: 4. Disclosure of institution privacy policy Section 503 of the Gramm-Leach-Bliley Act (15 U.S.C. 6803) is amended— in subsection (a)— by striking customer...
- Section HDBB153FB7A0847269BBC6DAEE90941C9: 5. Rulemaking Section 504 of the Gramm-Leach-Bliley Act (15 U.S.C. 6804) is amended— in subsection (a)(1)— by striking subparagraph (D) and inserting the...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Gramm-Leach-Bliley Act to modernize the protection of the nonpublic personal information of individuals with whom financial institutions have customer or consumer relationship, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Technology, Foreign Policy
Primary Purpose
This bill, To amend the Gramm-Leach-Bliley Act to modernize the protection of the nonpublic personal information of individuals with whom financial institutions have customer or consumer relationship, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Legislative Progress
ReportedReported with an amendment; committed to the Committee of the …
Mr. McHenry introduced the following bill; which was referred to …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology