U.S. Rep. Blaine Luetkemeyer’s (MO-3) bill to save customers of banks and credit unions time and money by eliminating redundant mailings has been overwhelmingly passed by the House of Representatives, sending the legislation to the U.S. Senate for consideration.

Luetkemeyer’s Eliminate Privacy Notice Confusion Act, a version of which passed without opposition in December, 2012, would eliminate the current requirement that financial institutions have to mail all customers annual privacy notices explaining information sharing practices even when a financial institution’s privacy policies have not changed. Instead, Luetkemeyer’s bill would require banks and credit unions to provide information to customers only if privacy policies have in fact changed at their financial institution.

“For the second time, lawmakers on both sides of the aisle in the House of Representatives have supported this commonsense legislation that would eliminate unnecessary, costly, confusing and often ignored mailings that clog up people’s mailboxes and I am confident that the Senate will embrace this legislation as well,” Luetkemeyer said. “This bill will reduce costs passed onto the customers of banks and credit unions and will make it more likely that people will pay closer attention to important mailings they receive from their financial institutions.”

While Luetkemeyer’s previous bill easily cleared the House, the Senate was unable to consider it before the end of the previous Congress. If approved by the Senate, the bill would go to President Obama for his signature.