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House Proceeding on Apr 14th, 2010 :: 0:58:45 to 1:00:55
Total video length: 5 hours 7 minutes Stream Tools: Stream Overview | Edit Time

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Dennis Moore

0:58:34 to 0:58:54( Edit History Discussion )

Dennis Moore: the clerk: h.r. 3506, a bill to amend the gramm-leech-bliley act to provide an exception from the continuing requirement for annual privacy notices for financial institutions which do not share personal information with affiliates, and for other purposes. the speaker pro tempore: pursuant to the rule, the gentleman from kansas, mr. moore, and the gentleman from minnesota, mr. paulsen, each will control 20 minutes.

Dennis Moore

0:58:45 to 1:00:55( Edit History Discussion )
Speech By: Dennis Moore

Dennis Moore

0:58:55 to 0:59:15( Edit History Discussion )

Dennis Moore: the chair recognizesthe gentleman from kansas. mr. moore: thank you, mr. speaker. i ask unanimous consent that all members may have five legislative days to revise and extend their remarks on this legislation d insert extraneous material thereon. the speaker pro tempore: without objection. mr. moore: mr. speaker, i yield myself such time as i may consume. i want to congratulate the gentleman from minnesota, representative eric paulsen, a

Dennis Moore

0:59:16 to 0:59:36( Edit History Discussion )

Dennis Moore: member of our financial services mmittee, as well as the oversight and investigation subcommittee t i chair. . i was proud to introduce this with representative peter roskam who first introduced this bill in the 110th congress when he served on the financial

Dennis Moore

0:59:37 to 0:59:58( Edit History Discussion )

Dennis Moore: services committee. in the last congress, mr. speaker, this legislation was included in a bank and thrift regulatory bill introduced which was later in a comprehensive regulatory reform measure that this house approved by voice vote. the senate failed to act. the legislation we consider today will help minimize confusion consumers have about their privacy rights regarding

Dennis Moore

0:59:59 to 1:00:20( Edit History Discussion )

Dennis Moore: two conflicting provisions of two prior laws. the fair debt collection practices act, specifically prohibits subject companies from sharing personal information with third parties. the gramm-leach-bliley provides these firms to provide annual privacy notices to opt out having their information shared with third parties. since this practice is already

Dennis Moore

1:00:21 to 1:00:43( Edit History Discussion )

Dennis Moore: prohibited by law, these confuse the consumers that receives them. h.r. -- this bil will not allow any financial institution that is prohibited by the fair debt collection practices act to share private information to third parties.

Dennis Moore

1:00:44 to 1:00:55( Edit History Discussion )

Dennis Moore: this will reduce confusion for consumers who may incorrectly think that the companies have the right to share their personal information with third parties. this should not be confused with the privacy policy

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