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Privacy of Consumer Financial Information

banking-occ · OCC · Rule · Published 2000-06-01 · Effective 2000-11-13 · 65 FR 35162

Document

Document number
00-13124
Federal Register citation
65 FR 35162
CFR reference
12 CFR 40
Type
Rule
Action
Joint final rule.
Category
banking-occ
Sub-agency
OCC
Publication date
2000-06-01
Effective date
2000-11-13
Treasury docket
Docket No. 00-10

Abstract

The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and the Office of Thrift Supervision, (collectively, the Agencies) are publishing final privacy rules pursuant to section 504 of the Gramm-Leach-Bliley Act (the GLB Act or Act). Section 504 authorizes the Agencies to issue regulations as may be necessary to implement notice requirements and restrictions on a financial institution's ability to disclose nonpublic personal information about consumers to nonaffiliated third parties. Pursuant to section 503 of the GLB Act, a financial institution must provide its customers with a notice of its privacy policies and practices. Section 502 prohibits a financial institution from disclosing nonpublic personal information about a consumer to nonaffiliated third parties unless the institution satisfies various notice and opt-out requirements and the consumer has not elected to opt out of the disclosure. These final rules implement the requirements outlined above.

Source

Authoritative
Federal Register document
Machine
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