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Federal Regulators Release Model Consumer Privacy Notice Online Form Builder

Last year, the eight federal regulators that regulate the financial services industry issued a "simplified" model privacy notice that was published in the Federal Register on December 1, 2009. Today, the regulators released an "Online Form Builder" to guide a covered institution to select the version of the model form that fits its practices, such as whether the institution provides an opt-out for consumers.

Under the new regulation, to obtain a legal "safe harbor" and satisfy the disclosure requirements under the Gramm-Leach-Bliley Act, institutions must follow the instructions in the model form regulation when using the Online Form Builder.

The form is available here: Online Form Builder

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Author

Cynthia J. Larose

Member / Chair, Privacy & Cybersecurity Practice

Cynthia J. Larose is Chair of the firm's Privacy & Cybersecurity Practice, a Certified Information Privacy Professional-US (CIPP-US), and a Certified Information Privacy Professional-Europe (CIPP-E). She works with clients in various industries to develop comprehensive information security programs on the front end, and provides timely counsel when it becomes necessary to respond to a data breach.