Get Fillible Privacy Notice Form

You provide a notice annually if you define the 12-consecutive-month period as a calendar year and provide the annual notice to the customer once in each calendar year following the calendar year in which you provided the initial notice.

The GLBA privacy rules, as enforced by the various regulators, generally require: Clear and conspicuous notice of the financial institution's information-sharing policies and practices, including what information it collects and with whom it shares the information.

The model privacy form is a two-page disclosure form. It is designed to be succinct and comprehensible and allow consumers to easily compare the privacy practices of different financial institutions. Use of the model privacy form is voluntary.

Customers are entitled to initial and annual privacy notices regardless of the information disclosure practices of their financial institution unless an exception to the annual privacy notice requirement applies.

The Contents of the Privacy Notice Your notice must include, where it applies to you, the following information: Categories of information collected. For example, nonpublic personal information obtained from an application or a third party such as a consumer reporting agency. Categories of information disclosed.

There are three types of privacy notices defined in the regulations: an initial notice, an annual notice, and a revised notice. The regulation specifies when and to whom a bank is required to give each type of privacy notification. Let's look at the when and who for each type of privacy notice.

Short form notices deliver essential elements of how information is treated and protected, provide means to access the full policy, and often include essential privacy choices, such as opt-ins or opt-outs.

Delivering Privacy Notices You must deliver your privacy notices to each consumer or customer in writing, or, if the consumer or customer agrees, electronically.