15 U.S.C. § 6806 — Relation to other provisions

Page 2295 TITLE 15—COMMERCE AND TRADE § 6808 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees. § 6806. Relation to other provisions Except for the amendments made by sub- sections (a) and (b), nothing in this chapter shall be construed to modify, limit, or supersede the operation of the Fair Credit Reporting Act [15 U.S.C. 1681 et seq.], and no inference shall be drawn on the basis of the provisions of this chapter regarding whether information is trans- action or experience information under section 603 of such Act [15 U.S.C. 1681a]. (Pub. L. 106–102, title V, § 506(c), Nov. 12, 1999, 113 Stat. 1442.) Editorial Notes REFERENCES IN TEXT Amendments made by subsections (a) and (b), re- ferred to in text, means amendments made by section 506(a) and (b) of Pub. L. 106–102, which amended section 1681s of this title. This chapter, referred to in text, was in the original ‘‘this title’’, meaning title V of Pub. L. 106–102, Nov. 12, 1999, 113 Stat. 1436, which enacted this chapter and amended section 1681s of this title. For complete classi- fication of title V to the Code, see Tables. The Fair Credit Reporting Act, referred to in text, is title VI of Pub. L. 90–321, as added by Pub. L. 91–508, title VI, § 601, Oct. 26, 1970, 84 Stat. 1127, which is classi- fied generally to subchapter III (§ 1681 et seq.) of chap- ter 41 of this title. For complete classification of this Act to the Code, see Short Title note set out under sec- tion 1601 of this title and Tables. § 6807. Relation to State laws (a) In general This subchapter and the amendments made by this subchapter shall not be construed as super- seding, altering, or affecting any statute, regu- lation, order, or interpretation in effect in any State, except to the extent that such statute, regulation, order, or interpretation is incon- sistent with the provisions of this subchapter, and then only to the extent of the inconsistency. (b) Greater protection under State law For purposes of this section, a State statute, regulation, order, or interpretation is not incon- sistent with the provisions of this subchapter if the protection such statute, regulation, order, or interpretation affords any person is greater than the protection provided under this sub- chapter and the amendments made by this sub- chapter, as determined by the Bureau of Con- sumer Financial Protection, after consultation with the agency or authority with jurisdiction under section 6805(a) of this title of either the person that initiated the complaint or that is the subject of the complaint, on its own motion or upon the petition of any interested party. (Pub. L. 106–102, title V, § 507, Nov. 12, 1999, 113 Stat. 1442; Pub. L. 111–203, title X, § 1093(6), July 21, 2010, 124 Stat. 2097.) Editorial Notes REFERENCES IN TEXT This subchapter, referred to in text, was in the origi- nal ‘‘this subtitle’’, meaning subtitle A (§§ 501–510) of title V of Pub. L. 106–102, Nov. 12, 1999, 113 Stat. 1436, which is classified principally to this subchapter. For complete classification of subtitle A to the Code, see Tables. AMENDMENTS 2010—Subsec. (b). Pub. L. 111–203 substituted ‘‘Bureau of Consumer Financial Protection’’ for ‘‘Federal Trade Commission’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111–203 effective on the des- ignated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees. § 6808. Study of information sharing among fi- nancial affiliates (a) In general The Secretary of the Treasury, in conjunction with the Federal functional regulators and the Federal Trade Commission, shall conduct a study of information sharing practices among fi- nancial institutions and their affiliates. Such study shall include— (1) the purposes for the sharing of confiden- tial customer information with affiliates or with nonaffiliated third parties; (2) the extent and adequacy of security pro- tections for such information; (3) the potential risks for customer privacy of such sharing of information; (4) the potential benefits for financial insti- tutions and affiliates of such sharing of infor- mation; (5) the potential benefits for customers of such sharing of information; (6) the adequacy of existing laws to protect customer privacy; (7) the adequacy of financial institution pri- vacy policy and privacy rights disclosure under existing law; (8) the feasibility of different approaches, in- cluding opt-out and opt-in, to permit cus- tomers to direct that confidential information not be shared with affiliates and nonaffiliated third parties; and (9) the feasibility of restricting sharing of information for specific uses or of permitting customers to direct the uses for which infor- mation may be shared. (b) Consultation The Secretary shall consult with representa- tives of State insurance authorities designated by the National Association of Insurance Com- missioners, and also with financial services in- dustry, consumer organizations and privacy groups, and other representatives of the general public, in formulating and conducting the study required by subsection (a). (c) Report On or before January 1, 2002, the Secretary shall submit a report to the Congress containing the findings and conclusions of the study re- quired under subsection (a), together with such recommendations for legislative or administra- tive action as may be appropriate. (Pub. L. 106–102, title V, § 508, Nov. 12, 1999, 113 Stat. 1442.)