Tax & Business Insights




Reprinted from: 65 Federal Register 33675 (May 24, 2000):

Example of notice. A financial institution ("Lender") that (i) does not have any affiliates and (ii) only discloses nonpublic personal information to nonaffiliated third parties as authorized under §§ 313.14 and 313.15, may comply with the requirements of § 313.6 of the rule by using the following notice, if applicable.

Lender collects nonpublic personal information about you from the following sources:

 - Information we receive from you on applications or other forms;

- Information about your transactions with us or others; and

- Information we receive from a consumer reporting agency.40

 We do not disclose any nonpublic personal information about you to anyone, except as permitted by law.

 If you decide to pay off your loan(s), we will adhere to the privacy policies and practices as described in this notice.

 Lender restricts access to your personal and account information to those employees who need to know that information to provide products or services to you. Lender maintains physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information.

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40 You only need to describe those general categories that apply to your policies and practices. Accordingly, if you do not collect information from “a consumer reporting agency,” for  instance, then you need not describe that category in your notices.

 


Copyright 2001
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