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Following a recent CFPB proposal on privacy disclosures, U.S. Sens. Sherrod Brown (D-Ohio) and Jerry Moran (R-Kan.) renewed their push for  legislation that would streamline financial privacy notifications.

The Privacy Notice Modernization Act, which has 63 bipartisan cosponsors, would exempt institutions that do not publicly share customer information from delivering annual privacy notices unless there has been a change to the privacy policy.  However, the existing privacy policy would still be available to consumers on the institution’s website.

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