The House of Representatives passed legislation sponsored by U.S. Rep. Blaine Luetkemeyer (MO-03) that would save customers of banks and credit unions time and money by eliminating redundant mailings.

“This common-sense piece of legislation would eliminate confusing mailings that inundate American’s mailboxes and cost millions of dollars to produce and mail,” Luetkemeyer said. “This legislation would put an end to redundant mailings and it would also make it more likely for people to pay closer attention to mailings they receive from their financial institutions because they would be receiving fewer.”

Luetkemeyer’s Eliminate Privacy Notice Confusion Act would eliminate the current requirement that banks have to mail to all customers annual privacy notices explaining information sharing practices even when a financial institution’s privacy policies have not changed. Luetkemeyer’s bill would require banks and credit unions to provide information only if privacy policies have changed at the financial institution.

This legislation was passed in the House of Representatives in the 112^th and 113^th Congress. The Senate has not considered the bill.