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House Passes Privacy Disclosure Exemption

Senate now gets measure that would limit when financial institutions, including credit unions, have to provide privacy disclosures.

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H.R. 5817, the bill that would provide an exemption to Gramm-Leach-Bliley annual privacy notification requirements, passed the House as expected by voice vote on Wednesday.

Should the bill become law, credit unions would only be required to provide privacy disclosures to members when they first open their account, and again only when the policy changes.

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