Amendment AA3-AB563

LRBa1189/2

RJM:cmh:ch

1999 - 2000 LEGISLATURE

ASSEMBLY AMENDMENT 3, TO 1999 ASSEMBLY BILL 563

February 8, 2000 - Offered by Representative Schneider.

AB563-AA3,1,1 At the locations indicated, amend the bill as follows:

AB563-AA3,1,2 1. Page 6, line 2: after that line insert:

AB563-AA3,1,5 "(1m) "Affiliate", when used in relation to any person, means another person who owns or controls, is owned or controlled by or is under common ownership control with the person.".

AB563-AA3,1,6 2. Page 6, line 23: after that line insert:

AB563-AA3,1,9 "(5v) "Personal financial information" means information that is financial in nature and that can be associated with a particular individual through one or more identifiers or through other information or circumstances.".

AB563-AA3,1,10 3. Page 25, line 21: after that line insert:

AB563-AA3,1,12 "subchapter v financial privacy

AB563-AA3,2,4 222.0505 Disclosure of personal financial information prohibited. Except as provided in s. 222.0515, no universal bank may disclose to another person any personal financial information that relates to a customer of the universal bank or that relates to a customer of an affiliate of the universal bank.

AB563-AA3,2,9 222.0510 Disclosure by affiliates and agents. No affiliate or agent of a universal bank may disclose to another person any personal financial information that relates to a customer of the universal bank or to a customer of an affiliate of the universal bank, unless the disclosure is to the universal bank or unless the universal bank would be allowed to make the disclosure under s. 222.0515.

AB563-AA3,2,12 222.0515 Exceptions. A universal bank may disclose personal financial information that relates to a customer of the universal bank or that relates to a customer of an affiliate of the universal bank if any of the following applies:

AB563-AA3,2,13 (1) The disclosure is made with the written consent of the customer.

AB563-AA3,2,17 (2) The disclosure is made as necessary to effect, administer or enforce a transaction that is requested or authorized by the customer, to provide a financial product or service that is requested or authorized by the customer or to maintain or service the customer's account with the universal bank or affiliate.

AB563-AA3,2,19 (3) The disclosure is made to persons acting in a fiduciary or representative capacity on behalf of the customer.

AB563-AA3,2,20 (4) The disclosure is made to an affiliate of the universal bank.

AB563-AA3,2,23 (5) Consistent with 15 USC 1681 to 1681u, the disclosure is made to a consumer reporting agency for purposes of a consumer report or is made from a consumer report prepared by a consumer reporting agency.

AB563-AA3,3,3 (6) The disclosure is made to a county child support agency that is attempting to establish, modify or enforce a child support obligation of the customer, is made to a state or federal agency or is made to a law enforcement agency.".

AB563-AA3,3,4 (End)