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Federal Privacy Notice Bill Introduced in Senate, House Bill Gains Cosponsors

Efforts to eliminate privacy notice mailings when no changes in policies are made are moving forward on Capitol Hill. S. 423, the Privacy Notice Modernization Act, was introduced in the U.S. Senate on February 10. Missouri U.S. Representative Blaine Luetkemeyer (R-District 3) introduced a similar bill in the House in January.

S. 423 and HR. 601, the Eliminate Privacy Notice Act, would allow credit unions and other financial institutions to mail privacy notices only when there is a change in policies instead of every year. 

The bill would save credit unions time and money by eliminating redundant mailings, while still ensuring people are informed of privacy changes when they occur at the credit union.  

The Missouri Credit Union Association reached out to Missouri U.S. Senators Claire McCaskill (D) and Roy Blunt (R) to encourage support of the Senate bill. Senator Blunt signed on as a cosponsor on February 12.

The House bill currently has 35 cosponsors, including Missouri U.S. Representative Billy Long (R-District 7). 

Caption: Pictured is Roy Blunt.