Form of opt out notice to consumers; opt out methods.

CFR · 2024-01-01 · US · Title 12

(a)(1) (i) That you disclose or reserve the right to disclose nonpublic personal information about your consumer to a nonaffiliated third party; (ii) That the consumer has the right to opt out of that disclosure; and (iii) A reasonable means by which the consumer may exercise the opt out right. (2) (A) Identify all of the categories of nonpublic personal information that you disclose or reserve the right to disclose, and all of the categories of nonaffiliated third parties to which you disclose the information, as described in § 1016.6(a)(2) and (3) of this part, and state that the consumer can opt out of the disclosure of that information; and (B) Identify the financial products or services that the consumer obtains from you, either singly or jointly, to which the opt out direction would apply. (ii) (A) Designate check-off boxes in a prominent position on the relevant forms with the opt out notice; (B) Include a reply form together with the opt out notice that, in the case of financial institutions described in § 1016.3(l)(3) of this part, includes the address to which the form should be mailed; (C) Provide an electronic means to opt out, such as a form that can be sent via electronic mail or a process at your Web site, if the consumer agrees to the electronic delivery of information; or (D) Provide a toll-free telephone number that consumers may call to opt out. (iii) (A) The only means of opting out is for the consumer to write his or her own letter to exercise that opt ou

official document · source cfr-2024 · id 12:§ 1016.7