Congressman Bill Huizenga (MI-02) released the following statement after the Senate passed his legislation, H.R. 4014, that provides hard-working taxpayers and their businesses who submit information to the Consumer Financial Protection Bureau (CFPB) with the same confidentiality provisions that other financial regulators are required to provide:
"While there is much more work to be done to fix Dodd-Frank, H.R. 4014 is a common-sense reform that protects taxpayers by ensuring the CFPB cannot share sensitive information with other entities. H.R. 4014 essentially will function in the same manner as 'attorney client privilege' meaning any information shared with the CFPB stays there. In today's day and age, ensuring that privileged information remains protected is paramount and H.R. 4014 does that."