Regulation P: Consumer Privacy – In Depth (Individual)

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.