Regulation P Proposed Amendment

On July 1, the CFPB released proposed amendments to Regulation P, to align the regulation with the changes to the GLBA that took place last year.  If you remember, in December 2015, the GLBA was amended to provide an exemption to financial institutions from the requirement to provide an annual privacy notice.  If the institution does not allow the customer … Read More

Annual Privacy Notice Requirement

Disclosure of Nonpublic Personal Information 15 USC 94 On December 4, 2015, President Obama signed the “Fixing America’s Surface Transportation Act” (“FAST Act”) which provides relief to financial institutions regarding providing an annual privacy notice. The Gramm-Leach-Bliley Act (GLB Act or GLBA) is a statute that, among other things, governs the privacy and sharing of nonpublic personal information.  Regulation P … Read More