The Gramm-Leach Bliley Act (GLBA), is implemented by Regulation P: Privacy of Consumer Financial Information. The GLBA limits when and how a bank may disclose nonpublic personal information about a consumer to nonaffiliated third parties. For information shared, the consumer must be allowed to opt-out of the sharing. This course will provide details of Regulation P. This course is intended for compliance and operations personnel.
Learning Objectives:
- Understand the various definitions under Regulation P in order to comply with the regulation
- Know which notices the bank must provide as well as when to provide an opt-out option
- Understand the exceptions to opting-out
Course Outline:
- Introduction
- Definitions
- Privacy Notices
- Initial Privacy Notice
- Annual Privacy Notice
- Revised Privacy Notice
- Contents of Privacy Notices
- Opt-Out Notices
- Limits On Disclosure to Nonaffiliated Third Parties
- Limits on Disclosure and Reuse of Information
- Limits on Sharing Account Number Information for Marketing Purposes
- Exceptions to Opt-Out Requirements for Service Providers and Joint Marketing
- Exceptions to Opt-Out Requirements for Processing and Servicing Transactions
- Other Exceptions to Opt-Out Requirements
Rev–Oct. 2020. Course length ≈ 53 minutes.
This course is worth 1 CPE credit.
