The Privacy of Consumer Financial Information Rule (Privacy Rule or Rule), 16 CFR part 313, requires among other things that certain motor vehicle dealers provide an annual disclosure of their privacy policies to their customers by hand delivery, mail, electronic delivery, or, with the consent of the consumer, through a website.

On June 24, 2015, the Commission proposed amending the Rule to allow motor vehicle dealers instead to notify their customers that a privacy policy is available on their websites, under certain circumstances. 80 FR 36267 (June 24, 2015). The proposed amendment would also revise the scope and definitions in the Rule in light of the transfer of part of the Commission's rulemaking authority to the Consumer Financial Protection Bureau in the Dodd-Frank Wall Street Reform and Consumer Protection Act. In particular, the proposed amendment would clarify that the Commission's Privacy Rule applies only to certain motor vehicle dealers, and not to a broader range of financial institutions as it had prior to the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The comment period closed on August 31, 2015. Congress subsequently enacted the Fixing America's Surface Transportation (FAST) Act, which included a provision amending the Gramm-Leach-Bliley Act to create a new exception to the annual notice requirement. On March 5, 2019, the Commission announced a notice of proposed rulemaking (NPRM). The comment period closed on June 3, 2019. 

On October 27, 2021, the Commission announced the issuance of a final rule to, among other changes, revise the Rule’s scope, modify the Rule’s definitions of "financial institution” and "federal financial regulator,” and update the Rule’s annual customer privacy notice requirement. This action was necessary to conform the Rule to the current requirements of the Gramm-Leach-Bliley Act. The amendments will be effective 30 days after publication in the Federal Register .