Enrolled Bill Summary

            Senate Bill 712 amends the Insurance Code to require each entity engaged in the business of insurance and regulated by the state to comply with federal regulations that restrict the direct or indirect disclosure of consumers' nonpublic personal information by financial institutions and by nonaffiliated third parties that receive such information from those institutions. The bill requires the commissioner of insurance to adopt rules to carry out those federal regulations and make the state eligible to override the insurance customer protection regulations prescribed by the Federal Deposit Insurance Corporation, and it requires the Texas Department of Insurance to implement federally required standards for the enforcement of these provisions. The bill also requires the department to enforce federal regulations, and it allows the attorney general, after conferring with the commissioner, to institute certain actions for injunctive or declaratory relief or civil penalties for violations of regulations.