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 publishing final amendments to their rules that implement the privacy provisions of Subtitle A of Title V of the Gramm- Leach-Bliley Act ("GLB Act"). These rules require financial institutions to provide initial and annual privacy notices to their customers. Pursuant to Section 728 of the Financial Services Regulatory Relief Act of 2006 ("Regulatory Relief Act" or "Act"), the Agencies are adopting a model privacy form that financial institutions may rely on as a safe harbor to provide disclosures under the privacy rules. In addition, the Agencies other than the SEC are eliminating the safe harbor permitted for notices based on the Sample Clauses currently contained in the privacy rules if the notice is provided after December 31, 2010. Similarly, the SEC is eliminating the guidance associated with the use of notices based on the Sample Clauses in its privacy rule if the notice is provided after December 31, 2010.
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-2009-0011] 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-2009-0014] 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. 34-61003, IA-2950, IC-28997; 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: Final rule. SUMMARY: The OCC, Board, FDIC, OTS, NCUA, FTC, CFTC, and SEC (the “Agencies”) are publishing final amendments to their rules that implement the privacy provisions of Subtitle A of Title V of the Gramm-Leach-Bliley Act (“GLB Act”). These rules require financial institutions to provide initial and annual privacy notices to their customers. Pursuant to Section 728 of th…
Citation: 74 FR 62890
