On February 24, Congressman Patrick McHenry (NC-10) formally introduced his bill to modernize the Gramm-Leach-Bliley Act (“GLBA”) in the House as H.R. 1165. The bill was first released as a discussion draft in June 2022, although the latest version reflects a number of updates as compared to the initial discussion draft. The bill has been referred to the House Financial Services Committee, of which Congressman McHenry is the Chairman, and will be marked up during the Committee’s first markup of the 118th Congress, which began on February 28th at 10 AM ET.
