Regulation .09 Revised Privacy Notices for Financial Information.
Regulation .09 Revised Privacy Notices for Financial Information.LinkCopy Citation
A.
Except as otherwise authorized in this chapter, a licensee may not, directly or through an affiliate, disclose any nonpublic personal financial information about a consumer to a nonaffiliated third party other than as described in the initial notice that the licensee provided to that consumer under Regulation .05 of this chapter, unless:
(1)
The licensee has provided to the consumer a clear and conspicuous revised notice that accurately describes its policies and practices;
(2)
The licensee has provided to the consumer a new opt out notice;
(3)
The licensee has given the consumer a reasonable opportunity, before the licensee discloses the information to the nonaffiliated third party, to opt out of the disclosure; and
(4)
The consumer does not opt out.
B.
Revised Notice.
(1)
Except as otherwise permitted by Regulations .14, .15, and .16 of this chapter, a licensee shall provide a revised notice before it discloses:
(a)
A new category of nonpublic personal financial information to any nonaffiliated third party;
(b)
Nonpublic personal financial information to a new category of nonaffiliated third party; or
(c)
Nonpublic personal financial information about a former customer to a nonaffiliated third party, if that former customer has not had the opportunity to exercise an opt out right regarding that disclosure.
(2)
A revised notice is not required if the licensee discloses nonpublic personal financial information to a new nonaffiliated third party that the licensee adequately described in its prior notice.
C.
A licensee required to deliver a revised privacy notice under this regulation shall deliver it in accordance with Regulation .10 of this chapter.