- The Financial Services Regulatory Relief Act of 2006 (FSRRA) required the agencies to propose a model form that is succinct and comprehensible to consumers, allows consumers to easily compare financial institutions' privacy practices, and is in an easily readable type font.
- The proposed model notice, developed through consumer research, meets the requirements of the FSRRA.
- The model notice would provide a compliance "safe harbor" for institutions that choose to use it when it is finalized.
- The attached NPR seeks comment on a variety of issues related to the model notice, including a proposed phase-out period for the sample notice clauses that were originally published in Appendix A of Part 332 of the FDIC's rules and regulations on June 1, 2000.
FDIC-Supervised Banks (Commercial and Savings)
Chief Executive Officer
FDIC Part 332 - Privacy of Consumer Financial
"Interagency Proposal for Model Privacy Form under the Gramm-Leach-Bliley Act," published in the Federal Register on March 29, 2007 - PDF 3,663k (PDF Help)
Editorial corrections to the March 29, 2007, published proposal - PDF 217k (PDF Help)
David Lafleur, Senior Policy Analyst-Compliance
Section, at email@example.com or 202.898.6569
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