The Bureau's new Regulation P makes only certain non-substantive, technical, formatting, and stylistic changes. To minimize any potential confusion, the Bureau is substantially preserving the numbering of the Board's Regulation P, other than the new part number.
2011 the CFPB recodified in Regulation P, 12 CFR Part 1016, the implementing regulations that were previously issued by the Board, the FDIC, the Federal Trade Commission (“FTC”), the NCUA, the OCC, and the former OTS. 5 . 15 U.S.C. Sections6801-6809. The NCUA published its final rule in the . Federal Register . on May 18, 2000 (65 FR 31722). Apr 16, 2019 · Regulation S-P, among other things, requires a registrant to: (1) provide a clear and conspicuous notice to its customers that accurately reflects its privacy policies and practices generally no later than when it establishes a customer relationship (“Initial Aug 13, 2018 · The CFPB has issued a final rule amending the provisions of Regulation P that implement the Gramm-Leach-Bliley Act (GLBA) annual privacy notice requirement. The final rule is intended to reflect the GLBA amendments made by the Fixing America’s Surface Transportation Act that exempted financial institutions meeting certain conditions from the annual notice requirement. Regulation P: Prohibits disclosure of nonpublic personal information (NPPI) to nonaffiliated third-parties unless the financial institution (FI) satisfies notice and opt-out requirements and the consumer has not opted out. Requires annual notice of privacy policies. (a) The model form may be used, at the option of a financial institution, including a group of financial institutions that use a common privacy notice, to meet the content requirements of the privacy notice and opt-out notice set forth in §§ 1016.6 and 1016.7 of this part.
In addition to Regulation S-P and the CFTC™s proposed privacy rules, the Federal Trade Commission (fiFTCfl) also has enacted privacy rules which are substantially similar to Regulation S-P and the CFTC™s proposed rules. The FTC™s privacy rules are applicable to financial institutions that are not otherwise
The purpose of this Regulation P Policy Template is to address compliance of a bank, credit union, or other type of financial institution to Regulation P.
Note: As of December 4, 2015, a financial institution is not required to provide an annual privacy notice to its applicable customers if it: (1) solely shares nonpublic personal information in accordance with the provisions of GLBA sections 502(b)(2) (opens new window) (corresponding to Regulation P § 1016.13 (opens new window)) or 502(e
Aug 13, 2018 · The CFPB has issued a final rule amending the provisions of Regulation P that implement the Gramm-Leach-Bliley Act (GLBA) annual privacy notice requirement. The final rule is intended to reflect the GLBA amendments made by the Fixing America’s Surface Transportation Act that exempted financial institutions meeting certain conditions from the annual notice requirement. Regulation P: Prohibits disclosure of nonpublic personal information (NPPI) to nonaffiliated third-parties unless the financial institution (FI) satisfies notice and opt-out requirements and the consumer has not opted out. Requires annual notice of privacy policies. (a) The model form may be used, at the option of a financial institution, including a group of financial institutions that use a common privacy notice, to meet the content requirements of the privacy notice and opt-out notice set forth in §§ 1016.6 and 1016.7 of this part. Draft privacy notice(s). Create a list of information collection and information sharing practices that must be disclosed to consumers. This list can help you categorize practices per the rule requirements and decide how to structure notices. The privacy rule provides a variety of disclosure options. For example, banks may develop: Regulation P provides consumer protections for the treatment of their nonpublic personal information. The regulation requires notice to customers about the financial institution’s privacy policy and practices, describes conditions in which the financial institution may share nonpublic information, and provides a method for customer to “opt In December 2011 the CFPB recodified in Regulation P, 12 CFR Part 1016, the implementing regulations that were previously issued by the Board, the FDIC, the Federal Trade Commission (FTC), the NCUA, the OCC, and the former OTS. 6. 1. These reflect FFIEC-approved procedures. 2. 15 USC Sections 6801-6809. 3. The NCUA published its final rule in the For the reasons set forth in the preamble, under 15 U.S.C. 6801 et seq, the Board proposes to amend Regulation P, 12 CFR Part 216, and the Official Staff Commentary, as set forth below: Start Part PART 216—PRIVACY OF CONSUMER FINANCIAL INFORMATION (REGULATION P) End Part Start Amendment Part. 1. Part 216 is removed and reserved.