S.Amdt. 4150

SA 4150. Mr. DODD submitted an amendment intended to be proposed to
amendment SA 4073 submitted by Mr. Enzi (for himself, Mr. Shelby, and
Mr. Grassley) and intended to be proposed to the amendment SA 3739
proposed by Mr. Reid (for Mr. Dodd (for himself and Mrs. Lincoln)) to
the bill S. 3217, to promote the financial stability of the United
States by improving accountability and transparency in the financial
system, to end ``too big to fail'', to protect the American taxpayer by
ending bailouts, to protect consumers from abusive financial services
practices, and for other purposes; which was ordered to lie on the
table; as follows:

On page 1, strike lines 3 through 6 and insert the
following:
(s) Consumer Privacy.--
(1) In general.--Notwithstanding any other provision of
this title, the Bureau may not obtain from a covered person
any personally identifiable financial information about a
consumer from the financial records of the covered person,
except--
(A) if the financial records are reasonably described in a
request by the Bureau and the consumer provides written
permission for the disclosure of such information by the
covered person to the Bureau; or
(B) as may be specifically permitted or required under
other provisions of law, and in accordance with the Right to
Financial Privacy Act of 1978 (12 U.S.C. 3401 et seq.).
(2) Treatment of covered person.--With respect to the
application of any provision of the Right to Financial
Privacy Act of 1978 to a disclosure by a covered person
subject to section 1022(c), the covered person shall be
treated as if it were a ``financial institution'', as that
term is defined in section 1101 of that Act (12 U.S.C. 3401).
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