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ICBA and other groups responded to the House Energy & Commerce Committee’s request for information on the parameters for a federal, comprehensive data privacy and security framework.
The groups said they support legislation that establishes a national privacy standard that recognizes that strong privacy and data security standards are already in place for financial institutions under the Gramm-Leach-Bliley Act and other financial privacy laws and avoids provisions that duplicate or are inconsistent with those existing laws.