Letter from 45 consumer, economic justice, privacy, and advocacy groups in response to House Financial Services Committee request for feedback on current federal consumer financial data privacy law and potential legislative proposals. The letter urges changes to the Gramm Leach Bliley Act (GLBA) that:
- Strengthen financial privacy in the United States by requiring that financial institutions obtain the consumer’s affirmative opt-in to third party data sharing, require them to follow a data minimization standard, and impose other key privacy protections.
- Refrain from preempting stronger state laws. We strongly oppose any GLBA amendment or other federal data privacy bill that would preempt existing state privacy laws and prevent states from adopting strong new privacy protections.
- Allow consumers to seek legal redress for violation of their rights under the GLBA.
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