The House Energy and Commerce Committee passed an online safety bill without the credit union-opposed American Privacy Rights Act (APRA) during a markup Wednesday. America’s Credit Unions wrote its own letter and signed onto a joint trades opposition letter prior to the markup.
Rep. Frank Pallone, D-N.J., offered a modified version of the APRA as an amendment, but withdrew it.
America’s Credit Unions has serious concerns about the bill’s lack of recognition of Gramm-Leach Bliley Act (GLBA) currently followed by financial institutions, among others.
Credit unions — including America’s Credit Unions and the GoWest Credit Union Association — have worked with APRA sponsors on changes that would align with credit union principles on data privacy and security legislation.
Those principles are:
- Recognition of GLBA standards and accompanying regulations;
- Strong federal preemption from state laws for those in GLBA compliance; and
- Protection from frivolous lawsuits created by a private right of action.
