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Financial Data Protection: Greater Control Over Personal Information

This new law strengthens the protection of your financial data, giving you greater control over how financial institutions collect, use, and share your private information. You will have the right to access your data, request its deletion, and decide on its sharing, enhancing your financial security and privacy.
Key points
Increased Data Control: Financial institutions need your consent to use your private data, unless essential for service provision.
Right to Access and Delete Data: You can request a list of your data held by a financial institution and ask for its deletion.
Clear Sharing Rules: Institutions must inform you what data they collect, how they use it, and if they share it with other companies.
Restrictions on International Sharing: Financial institutions cannot share your personal data with foreign governments, except for law enforcement purposes.
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Additional Information
Print number: 118_HR_1165
Sponsor: Rep. McHenry, Patrick T. [R-NC-10]
Process start date: 2023-02-24
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Data Privacy Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1165.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-02-24.

What are the main provisions?

Key points include:

  • Increased Data Control: Financial institutions need your consent to use your private data, unless essential for service provision.
  • Right to Access and Delete Data: You can request a list of your data held by a financial institution and ask for its deletion.
  • Clear Sharing Rules: Institutions must inform you what data they collect, how they use it, and if they share it with other companies.
  • Restrictions on International Sharing: Financial institutions cannot share your personal data with foreign governments, except for law enforcement purposes.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. McHenry, Patrick T. [R-NC-10].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 673.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Courts and Law Economy