Financial Information Privacy Protection Act of 2001

[AI summary unavailable — showing source text] Financial Information Privacy Protection Act of 2001 - Amends the Gramm-Leach-Bliley Act to provide that the customer's affirmative consent is a prerequisite to financial institution disclosure to affiliates of customer nonpublic personal information, including information about personal spending habits (currently such consent is only required for financial institution disclosure to nonaffiliated third parties). Emphasizes that this Act neither modifies, limits, nor supersedes standards established under the Health Insurance Portability and Accountability Act of 1996 with respect to the privacy and security of individually identifiable health information. Sets forth limits upon redisclosure and reuse of nonpublic consumer personal information received by an affiliated or nonaffiliated third party from a financial institution. Prescribes guidelines for: (1) consumer rights to access and correct information; and (2) Federal and State enforcement powers under this Act. Revises requirements for the timing of a financial institution's disclosure to consumers of its privacy policies and practices, including a new requirement that the disclosure first occur before a customer relationship …