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CFPB RIN: 3170-AA60 Publication ID: Spring 2016 
Title: ●Gramm-Leach-Bliley Act (GLBA) (Regulation P) 

Title LXXV of the Fixing America’s Transportation Act, entitled the Eliminate Privacy Notices Confusion Act, amended the Gramm-Leach-Bliley Act (GLBA) to add new section 503(f). Section 503(f) provides that financial institutions are no longer required to provide annual privacy notices as long as: (1) they have not changed their privacy policies since the last time their customers received a privacy notice, and (2) they only share customers’ financial information with others in a manner that is exempt from notice and opt-out requirements. Section 503(f) was effective upon enactment. In consultation and cooperation with other agencies with GLBA rule writing authority, the Bureau is expecting to issue a proposal to make minor technical modifications and clarifications to Regulation P to incorporate section 503(f).

Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Substantive, Nonsignificant 
RIN Status: First time 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 U.S.C. 6803(f)   
Legal Deadline:  None
Action Date FR Cite
NPRM  09/00/2016 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Nora Rigby
Office of Regulations
Consumer Financial Protection Bureau
Phone:202 435-7700