Examination and Supervisory Privilege Parity Act of 2014

(This measure has not been amended since it was passed by the House on July 29, 2014. The summary of that version is repeated here.)

Examination and Supervisory Privilege Parity Act of 2014 - Amends the Consumer Financial Protection Act of 2010, with respect to the supervision of nondepository covered persons, to include state agencies that licence, supervise, or examine the offering of consumer financial products or services among the regulatory agencies with which the Consumer Financial Protection Bureau (CFPB) is required to coordinate its supervisory activities.

Declares that the sharing of information with such regulators, authorities, and agencies shall not be construed as waiving, destroying, or otherwise affecting any privilege or confidentiality claimed by nondepository covered persons under federal or state law regarding such information as to any person or entity other than the CFPB, agency, supervisor, or authority.

[113th Congress Public Law 173]
[From the U.S. Government Publishing Office]



[[Page 128 STAT. 1899]]

Public Law 113-173
113th Congress

                                 An Act


 
 To amend the Consumer Financial Protection Act of 2010 to specify that 
privilege and confidentiality are maintained when information is shared 
    by certain nondepository covered persons with Federal and State 
    financial regulators, and for other purposes. <<NOTE: Sept. 26, 
                         2014 -  [H.R. 5062]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, <<NOTE: Examination and 
Supervisory Privilege Parity Act of 2014. 12 USC 5301 note.>> 
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Examination and Supervisory Privilege 
Parity Act of 2014''.
SEC. 2. PRIVILEGE OF INFORMATION SHARED BY CERTAIN NONDEPOSITORY 
                    COVERED PERSONS.

    Section 1024(b)(3) of the Consumer Financial Protection Act of 2010 
(12 U.S.C. 5514(b)(3)) is amended--
            (1) by striking ``regulators and the State bank regulatory 
        authorities'' and inserting ``regulators, the State bank 
        regulatory authorities, and the State agencies that licence, 
        supervise, or examine the offering of consumer financial 
        products or services''; and
            (2) by adding at the end the following: ``The sharing of 
        information with such regulators, authorities, and agencies 
        shall not be construed as waiving, destroying, or otherwise 
        affecting any privilege or confidentiality such person may claim 
        with respect to such information under Federal or State law as 
        to any person or entity other than such Bureau, agency, 
        supervisor, or authority.''.

    Approved September 26, 2014.

LEGISLATIVE HISTORY--H.R. 5062:
---------------------------------------------------------------------------

CONGRESSIONAL RECORD, Vol. 160 (2014):
            July 29, considered and passed House.
            Sept. 18, considered and passed Senate.

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