United States:
Federal Register: CFPB Exempts Certain Financial Companies From Privacy Notice Requirements
02 September 2018
Cadwalader, Wickersham & Taft LLP
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The Consumer Financial Protection Bureau ("CFPB")
final amendments that will exempt certain financial institutions
from the requirement of providing privacy disclosures under
Regulation P (Privacy of Consumer Financial Information) were
published in the Federal Register. The
amendments will become effective on September 17, 2018.
As
previously covered, Regulation P generally requires financial
institutions to provide customers with an annual notice describing
its privacy policies and procedures. The amendment will exempt
institutions from these requirements if they meet certain
conditions under the exemption.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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