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Final Rule

CFPB: Proposed Amendment to the Annual Privacy Notice Requirement (Regulation P)

  • Effective: Mon. DD, YYYY | Add to my calendar
  • Final Rule: Aug. 17, 2018
  • Published Proposal: Mon. DD, YYYY
  • Comments Due: Extended through Jul. 14, 2014
  • Prior Final Rule: Oct. 28, 2014
  • Disposition: Filed

Summary of the Proposal

Under the proposed rule, banks may post their privacy notices online rather than delivering them individually in certain circumstances. Specifically, a bank may forgo mailing the annual GLBA disclosure if the information on it has not changed since the previous notice, if it does not share the customer’s personal information in a way that triggers GLBA opt-out rights, if it has other channels for disclosures or opt-outs required by the Fair Credit Reporting Act and if the bank uses the federal agencies’ model privacy notice form.

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