Treasury Department, Comptroller of the Currency, Federal Reserve System, Federal Deposit Insurance Corporation, Thrift Supervision Office, National Credit Union Administration, Federal Trade Commission, Commodity Futures Trading Commission, Securities and Exchange Commission
The OCC, Board, FDIC, OTS, NCUA, FTC, CFTC, and SEC (the Agencies) are proposing amendments to their rules that implement the privacy provisions of the Gramm-Leach-Bliley Act (GLB Act), Title V, Subtitle A. These rules require financial institutions to provide initial and annual privacy notices to their customers. As required under section 728 of the Financial Services Regulatory Relief Act of 2006 (Regulatory Relief Act or Act), the Agencies are proposing a safe harbor model privacy form that financial institutions may use to provide disclosures under the privacy rules. Institutions that use notices based on the Sample Clauses currently contained in most of the privacy rules would lose the benefit of a safe harbor for compliance with respect to those notices if they are provided more than one year following the date of publication of a final rule. Similarly, institutions that use notices based on the Sample Clauses in the SEC's privacy rule could no longer rely on the guidance provided with respect to those notices if they are provided more than one year following the date of publication of a final rule.
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of the Treasury Office of the Comptroller of the Currency 12 CFR Part 40 [Docket ID OCC-2007-0003] RIN 1557-AC80 Federal Reserve System 12 CFR Part 216 [Docket No. R-1280] Federal Deposit Insurance Corporation 12 CFR Part 332 RIN 3064-AD16 Department of the Treasury Office of Thrift Supervision 12 CFR Part 573 [Docket ID OTS-2007-0005] RIN 1550-AC12 National Credit Union Administration 12 CFR Part 716 RIN 3133-AC84 Federal Trade Commission 16 CFR Part 313 [Project No. 034815] RIN 3084-AA94 Commodity Futures Trading Commission 17 CFR Part 160 RIN 3038-AC04 Securities and Exchange Commission 17 CFR Part 248 [Release Nos. 34-55497, IA-2598, IC-27755; File No. S7-09-07] RIN 3235-AJO6 AGENCIES: Office of the Comptroller of the Currency, Treasury (OCC); Board of Governors of the Federal Reserve System (Board); Federal Deposit Insurance Corporation (FDIC); Office of Thrift Supervision, Treasury (OTS); National Credit Union Administration (NCUA); Federal Trade Commission (FTC); Commodity Futures Trading Commission (CFTC); and Securities and Exchange Commission (SEC). ACTION: Proposed rule. SUMMARY: The OCC, Board, FDIC, OTS, NCUA, FTC, CFTC, and SEC (the Agencies) are proposing amendments to their rules that implement the privacy provisions of the Gramm-Leach-Bliley Act (GLB Act), Title V, Subtitle A. These rules require financial institutions to provide initial and annual privacy notices to their customers. As required under section 728 of the Financial Services Regulator…
Other Federal Register documents from the same docket.
Citation: 72 FR 14940
