Regulate Initials Notice For Free

You must provide a clear and conspicuous notice that accurately reflects your privacy policies and practices to: (1) Customer. An individual who becomes your customer, not later than when you establish a customer relationship, except as provided in paragraph (e) of this section; and. (2) Consumer.

You must provide a clear and conspicuous notice to customers that accurately reflects your privacy policies and practices not less than annually during the continuation of the customer relationship. Annually means at least once in any period of 12 consecutive months during which that relationship exists.

Providing notice not later than when you establish a customer relationship would not substantially delay the customer's transaction when the relationship is initiated in person at your office or through other means by which the customer may view the notice, such as on a Web site. (f) Delivery.

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.

The need to provide people with privacy information as soon as possible after obtaining their personal data is strongest where: your use of the data is likely to be unexpected or unwelcome; your use of the data is likely to have a significant effect on individuals; or.

The regulation does not require listing of all affiliates in the privacy notice, rather categories with examples are required. Some banks might list specific affiliates and some banks might be more general.

§ 1016.4 Initial privacy notice to consumers required. (2) Consumer. A consumer, before you disclose any nonpublic personal information about the consumer to any nonaffiliated third party, if you make such a disclosure other than as authorized by §§ 1016.14 and 1016.15 of this part.