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January 12, 2015



Please clarify how the information provided today in the Blog and the information provided December 31, 2014 in Credit Union Times correspond to one another. The CU Times story says -

Privacy Modernization Bill

The Senate also did not pass the Privacy Notification Modernization Act, which would change the current law that requires an annual privacy notification be sent to members. If the bill had become law, a credit union would only need to send a privacy notice to members if there has been a change in language from the previous year. CUNA and NAFCU supported the bill, saying it would reduce expenses for credit unions.

“The Senate privacy notice bill (S. 635) has over 70 cosponsors, which speaks for itself and should be a good candidate to move next Congress,” Jillian Pevo, NAFCU director of legislative affairs, said.

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