ICBA - Publications - Consumer Brochure on Privacy

Consumer Brochure on Privacy

WWR Article
February 15, 2002

In keeping with the theme for this year's National Consumer Protection Week -"Consumer Confidential: The Privacy Story"-several federal agencies, including the four banking agencies, have issued a new privacy guide for consumers. The guide, "Privacy Choices for Your Personal Financial Information," is designed to help consumers understand their options under the privacy provisions of the Gramm-Leach-Bliley Act.

The publication explains privacy notices, consumer choices and the right to opt out from information sharing. It encourages consumers to read all privacy notices, get answers to questions from the bank that provided the notice, decide whether to opt out (where that option applies), and shop around for a financial institution with the privacy policy they want. The guide also explains the limitations on the right to opt out.

Single printed copies of the brochure are available free of charge from the agencies that developed the brochure: the Fed, FDIC, OCC and OTS as well as the CFTC, FTC, NCUA, and SEC. The brochure can also be printed from the agencies' Web sites (for example, www.federalreserve.gov/pubs/privacy).