WASHINGTON - National Association of Federal Credit Unions (NAFCU) President and CEO Fred R. Becker, Jr. applauded Reps. Blaine Luetkemeyer (R-Mo.) and Brad Sherman (D-Calif.) for reintroducing The Eliminate Privacy Notice Confusion Act to eliminate the Gramm-Leach-Bliley Act privacy policy notification requirements, so long as the policy is unchanged, and there has been no new information sharing with non-affiliated third parties since prior notification.
“We thank Reps. Luetkemeyer and Sherman, as well as their staffs, for steadfastly pursuing this common-sense solution to ease the regulatory burden on financial institutions. Eliminating duplicative and costly annual privacy notices is one of the priorities outlined in NAFCU’s recently announced Five-Point Plan for Credit Union Regulatory Relief. We look forward to working with Congress for passage of this critical legislation.”
About Us:
The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.