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CFPB | RIN: 3170-AA39 | Publication ID: Spring 2014 |
Title: Annual Privacy Notice | |
Abstract: Regulation P, implementing provisions of the Gramm-Leach-Bliley Act, requires financial institutions to provide annual privacy notices to customers describing the institution's information sharing practices and explaining how a consumer can opt out of the sharing of their information when applicable. The CFPB, in response to a Federal Register notice on "Streamlining Inherited Regulations" issued in December 2011 (76 FR 75825), received comment suggesting revising the annual notice requirements in various circumstances to reduce unnecessary regulatory burden and unwanted paperwork for consumers. After reviewing policy options, the CFPB expects to begin developing a proposed rule to seek comment on potential revisions to Regulation P. | |
Agency: Consumer Financial Protection Bureau(CFPB) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: 12 CFR 1016 | |
Legal Authority: 15 USC 6801 to 6809 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Joseph Devlin Office of Regulations Consumer Financial Protection Bureau Phone:202 435-7700 |