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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 customer can opt out of the sharing of their information when applicable. The CFPB, in response to a Federal Register notice titled "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 issued a proposed rule in May 2014 and received comment on potential revisions to the annual privacy notice requirement of Regulation P. The CFPB published a final rule in the Federal Register on October 28, 2014, to allow financial institutions that restrict their information sharing practices and meet other requirements to post their annual privacy notices to customers under the Gramm-Leach-Bliley Act online rather than delivering them individually.