For the reasons set forth above, the Bureau of Consumer Financial Protection adds Part 1016 to Chapter X in Title 12 of the Code of Federal Regulations to read as follows: End Amendment Part Start Part PART 1016—PRIVACY OF CONSUMER FINANCIAL INFORMATION (REGULATION P)

consumer’s nonpublic personal information to a nonaffiliated third party if the disclosure is outside of the exceptions in sections 13, 14, or 15 of the regulation. If the financial institution provides the consumer’s nonpublic personal information to a nonaffiliated third party under the exception in section 13, it must provide notice of its privacy Privacy of Consumer Financial Information (Regulation P) Title V, Subtitle A of the Gramm-Leach-Bliley Act (GLBA) [1] governs the treatment of nonpublic personal information about consumers by financial institutions. Section 502 of the Subtitle, subject to certain exceptions, prohibits a financial institution from disclosing nonpublic personal information about a consumer to nonaffiliated third parties, unless (i) the institution satisfies various notice and opt-out requirements, and (ii 1 I. INTRODUCTION The Board’s Regulation P implements sections 502–509 of title V of the Gramm-Leach-Bliley Act--the portion of the act that concerns the privacy of consumer financial information.1 In light of the transfer of rulemaking authority for the privacy provisions of the GLB Act to the Bureau, the Bureau is publishing for public comment an interim final rule establishing a new Regulation P (Privacy of Consumer Financial Information). This interim final rule does not impose any new substantive obligations on regulated entities.


CFPB Interim Final Rule and Request for Comment Privacy … 2020-7-10 · consumer financial law, including performing appropriate functions to promulgate and review such rules, orders, and guidelines."10 Sections 502 through 509 of the GLB Act, except for section 505 as it applies to section 501(b) (i.e., enforcement of the GLB Act's requirements concerning data privacy safeguards), are a Federal consumer financial SEC Regulation S-P: Privacy of Consumer Financial

12: SECTION 1016.1 1016.1 Purpose and scope. 12: SECTION 1016.2 1016.2 Model privacy form and examples. 12:

Federal Reserve Board Regulation P – Privacy of Consumer Consumer: A consumer is an individual who obtains a financial product or service from a financial institution that is primarily for personal, family or household purposes. Customer: A customer, as stated above, is a type of consumer – one who has an ongoing relationship with a financial institution, under which the institution provides a § 216.4 Initial privacy notice to consumers required (2) Consumer. A consumer, before you disclose any nonpublic personal information about the consumer to any nonaffiliated third party, if you make such a disclosure other than as authorized by §§216.14 and 216.15. (b) When initial notice to a consumer is not required. Rules and Regulations Part 716 and Appendix A Privacy of 2001-6-5 · 716–3 PART 716 INFORMATION AND APPENDIX §716.3 Change 5/September 2000 PRIVACY OF CONSUMER FINANCIAL cial activity as described in section 4(k) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(k)).