PART 313—PRIVACY OF CONSUMER FINANCIAL INFORMATION Authority: 15 U.S.C. 6801 et seq., Source: 65 FR 33677, May 24, 2000, unless otherwise noted. § 313.1 Purpose and scope. (a) Purpose. (1) Requires a financial institution in specified circumstances to provide notice to customers about its privacy policies and practices; (2) Describes the conditions under which a financial institution may disclose nonpublic personal information about consumers to nonaffiliated third parties; and (3) Provides a method for consumers to prevent a financial institution from disclosing that information to most nonaffiliated third parties by “opting out” of that disclosure, subject to the exceptions in §§ 313.13, 313.14, and 313.15. (b) Scope. [65 FR 33677, May 24, 2000, as amended at 86 FR 70025, Dec. 9, 2021] § 313.2 Model privacy form and examples. (a) Model privacy form. (b) Examples. [74 FR 62965, Dec. 1, 2009] § 313.3 Definitions. As used in this part, unless the context requires otherwise: (a) Affiliate (b)(1) Clear and conspicuous (2) Examples Reasonably understandable. (A) Present the information in the notice in clear, concise sentences, paragraphs, and sections; (B) Use short explanatory sentences or bullet lists whenever possible; (C) Use definite, concrete, everyday words and active voice whenever possible; (D) Avoid multiple negatives; (E) Avoid legal and highly technical business terminology whenever possible; and (F) Avoid explanations that are imprecise and readily subject to different interpretations. (ii) Designed to call attention. (A) Use a plain-language heading to call attention to the notice; (B) Use a typeface and type size that are easy to read; (C) Provide wide margins and ample line spacing; (D) Use boldface or italics for key words; and (E) In a form that combines your notice with other information, use distinctive type size, style, and graphic devices, such as shading or sidebars, when you combine your notice with other information. (iii) Notices on web sites. (A) Place the notice on a screen that consumers frequently access, such as a page on which transactions are conducted; or (B) Place a link on a screen that consumers frequently access, such as a page on which transactions are conducted, that connects directly to the notice and is labeled appropriately to convey the importance, nature and relevance of the notice. (c) Collect (d) Company (e)(1) Consumer (2) For example: (i) An individual who applies to you for credit for personal, family, or household purposes is a consumer of a financial service, regardless of whether the credit is extended. (ii) An individual who provides nonpublic personal information to you in order to obtain a determination about whether he or she may qualify for a loan to be used primarily for personal, family, or household purposes is a consumer of a financial service, regardless of whether the loan is extended. (iii) If you hold ownership or servicing rights to an individual's loan that is used primarily for personal, family, or household purposes, the individual is your consumer, even if you hold those rights in conjunction with one or more other institutions. (The individual is also a consumer with respect to the other financial institutions involved.) An individual who has a loan in which you have ownership or servicing rights is your consumer, even if you, or another institution with those rights, hire an agent to collect on the loan. (iv) An individual who is a consumer of another financial institution is not your consumer solely because you act as agent for, or provide processing or other services to, that financial institution. (v) An individual is not your consumer solely because he or she is a participant or a beneficiary of an employee benefit plan that you sponsor or for which you act as a trustee or fiduciary. (f) Consumer reporting agency (g) Control (1) Ownership, control, or power to vote 25 percent or more of the outstanding shares of any class of voting security of the company, directly or indirectly, or acting through one or more other persons; (2) Control in any manner over the election of a majority of the directors, trustees, or general partners (or individuals exercising similar functions) of the company; or (3) The power to exercise, directly or indirectly, a controlling influence over the management or policies of the company. (h) Customer (i)(1) Customer relationship (2) For example: (i) Continuing relationship. (A) Has a credit or investment account with you; (B) Obtains a loan from you; (C) Purchases an insurance product from you; (D) Enters into an agreement or understanding with you whereby you undertake to arrange or broker a home mortgage loan, or credit to purchase a vehicle, for the consumer; (E) Enters into a lease of personal property on a non-operating basis with you; or (F) Has a loan for which you own the servicing rights. (ii) No continuing relationship. (A) The consumer obtains a financial product or service from you only in isolated transactions, such as cashing a check with you or making a wire transfer through you; (B) You sell the consumer's loan and do not retain the rights to service that loan; or (C) The consumer obtains one-time personal appraisal services from you. (j) Federal functional regulator (1) The Board of Governors of the Federal Reserve System; (2) The Office of the Comptroller of the Currency; (3) The Board of Directors of the Federal Deposit Insurance Corporation; (4) The National Credit Union Administration Board; and (5) The Securities and Exchange Commission. (k)(1) Financial institution (2) An example of a financial institution is an automobile dealership that, as a usual part of its business, leases automobiles on a nonoperating basis for longer than 90 days is a financial institution with respect to its leasing business because leasing personal property on a nonoperating basis where the initial term of the lease is at least 90 days is a financial activity listed in 12 CFR 225.28(b)(3) and referenced in section 4(k)(4)(F) of the Bank Holding Company Act. (3) Financial institution (4) An example of entities that are not significantly engaged in financial activities is a motor vehicle dealer is not a financial institution merely because it accepts payment in the form of cash, checks, or credit cards that it did not issue. (l)(1) Financial product or service (2) Financial service (m)(1) Nonaffiliated third party (i) Your affiliate; or (ii) A person employed jointly by you and any company that is not your affiliate (but nonaffiliated third party (2) Nonaffiliated third party (n)(1) Nonpublic personal information (i) Personally identifiable financial information; and (ii) Any list, description, or other grouping of consumers (and publicly available information pertaining to them) that is derived using any personally identifiable financial information that is not publicly available. (2) Nonpublic personal information (i) Publicly available information, except as included on a list described in paragraph (n)(1)(ii) of this section; or (ii) Any list, description, or other grouping of consumers (and publicly available information pertaining to them) that is derived without using any personally identifiable financial information that is not publicly available. (3) Examples of lists (ii) Nonpublic personal information does not include any list of individuals' names and addresses that contains only publicly available information, is not derived, in whole or in part, using personally identifiable financial information that is not publicly available, and is not disclosed in a manner that indicates that any of the individuals on the list is a consumer of a financial institution. (o)(1) Personally identifiable financial information (i) A consumer provides to you to obtain a financial product or service from you; (ii) About a consumer resulting from any transaction involving a financial product or service between you and a consumer; or (iii) You otherwise obtain about a consumer in connection with providing a financial product or service to that consumer. (2) Examples Information included. (A) Information a consumer provides to you on an application to obtain a loan, credit card, or other financial product or service; (B) Account balance information, payment history, overdraft history, and credit or debit card purchase information; (C) The fact that an individual is or has been one of your customers or has obtained a financial product or service from you; (D) Any information about your consumer if it is disclosed in a manner that indicates that the individual is or has been your consumer; (E) Any information that a consumer provides to you or that you or your agent otherwise obtain in connection with collecting on, or servicing, a credit account; (F) Any information you collect through an Internet “cookie” (an information collecting device from a web server); and (G) Information from a consumer report. (ii) Information not included. (A) A list of names and addresses of customers of an entity that is not a financial institution; and (B) Information that does not identify a consumer, such as aggregate information or blind data that does not contain personal identifiers such as account numbers, names, or addresses. (p)(1) Publicly available information (i) Federal, State, or local government records; (ii) Widely distributed media; or (iii) Disclosures to the general public that are required to be made by Federal, State, or local law. (2) Reasonable basis. (i) That the information is of the type that is available to the general public; and (ii) Whether an individual can direct that the information not be made available to the general public and, if so, that your consumer has not done so. (3) Examples Government records. (ii) Widely distributed media. (iii) Reasonable basis (B) You have a reasonable basis to believe that an individual's telephone number is lawfully made available to the general public if you have located the telephone number in the telephone book or the consumer has informed you that the telephone number is not unlisted. (q) You [65 FR 33677, May 24, 2000, as amended at 86 FR 70025, Dec. 9, 2021] Subpart A—Privacy and Opt Out Notices § 313.4 Initial privacy notice to consumers required. (a) Initial notice requirement. (1) Customer. (2) Consumer. (b) When initial notice to a consumer is not required. (1) You do not disclose any nonpublic personal information about the consumer to any nonaffiliated third party, other than as authorized by §§ 313.14 and 313.15; and (2) You do not have a customer relationship with the consumer. (c) When you establish a customer relationship General rule. (2) Special rule for loans. (3) Examples Examples of establishing a customer relationship. (A) Executes the contract to obtain credit from you or purchase insurance from you; or (B) Executes the lease for personal property with you. (ii) Examples of loan rule. (A) Originate the loan to the consumer and retain the servicing rights; or (B) Purchase the servicing rights to the consumer's loan. (d) Existing customers. (1) You may provide a revised privacy notice, under § 313.8, that covers the customer's new financial product or service; or (2) If the initial, revised, or annual notice that you most recently provided to that customer was accurate with respect to the new financial product or service, you do not need to provide a new privacy notice under paragraph (a) of this section. (e) Exceptions to allow subsequent delivery of notice General. (i) Establishing the customer relationship is not at the customer's election; or (ii) Providing notice not later than when you establish a customer relationship would substantially delay the customer's transaction and customer agrees to receive the notice at a later time. (2) Examples of exceptions Substantial delay of customer's transaction. (ii) No substantial delay of customer's transaction. (f) Delivery. [65 FR 33677, May 24, 2000, as amended at 86 FR 70026, Dec. 9, 2021] § 313.5 Annual privacy notice to customers required. (a) In general General rule. Annually (2) Example. (b)(1) Termination of customer relationship. (2) Examples. (i) In the case of a closed-end loan, the customer pays the loan in full, you charge off the loan, or you sell the loan without retaining servicing rights. (ii) In the case of mortgage or vehicle loan brokering services, your customer has obtained a loan through you (and you no longer provide any statements or notices to the customer concerning that relationship), or has ceased using your services for such purposes. (iii) In cases where there is no definitive time at which the customer relationship has terminated, you have not communicated with the customer about the relationship for a period of 12 consecutive months, other than to provide annual privacy notices or promotional material. (c) Special rule for loans. (d) Delivery. (e) Exception to annual privacy notice requirement When exception available. (i) Provide nonpublic personal information to nonaffiliated third parties only in accordance with the provisions of § 313.13, § 313.14, or § 313.15; and (ii) Have not changed your policies and practices with regard to disclosing nonpublic personal information from the policies and practices that were disclosed to the customer under § 313.6(a)(2) through (5) and (9) in the most recent privacy notice provided pursuant to this part. (2) Delivery of annual privacy notice after financial institution no longer meets requirements for exception. (i) Changes preceded by a revised privacy notice. (ii) Changes not preceded by a revised privacy notice. (iii) Examples. (B) You change your policies and practices in such a way that you no longer meet the requirements of paragraph (e)(1) of this section, and so provide an annual notice to your customers. After providing the annual notice to your customers, you once again meet the requirements of paragraph (e)(1) of this section for an exception to the annual notice requirement. You do not need to provide additional annual notice to your customers until such time as you no longer meet the requirements of paragraph (e)(1) of this section. [65 FR 33677, May 24, 2000, as amended at 86 FR 70026, Dec. 9, 2021] § 313.6 Information to be included in privacy notices. (a) General rule. (1) The categories of nonpublic personal information that you collect; (2) The categories of nonpublic personal information that you disclose; (3) The categories of affiliates and nonaffiliated third parties to whom you disclose nonpublic personal information, other than those parties to whom you disclose information under §§ 313.14 and 313.15; (4) The categories of nonpublic personal information about your former customers that you disclose and the categories of affiliates and nonaffiliated third parties to whom you disclose nonpublic personal information about your former customers, other than those parties to whom you disclose information under §§ 313.14 and 313.15; (5) If you disclose nonpublic personal information to a nonaffiliated third party under § 313.13 (and no exception under § 313.14 or § 313.15 applies to that disclosure), a separate statement of the categories of information you disclose and the categories of third parties with whom you have contracted; (6) An explanation of the consumer's right under § 313.10(a) to opt out of the disclosure of nonpublic personal information to nonaffiliated third parties, including the method(s) by which the consumer may exercise that right at that time; (7) Any disclosures that you make under section 603(d)(2)(A)(iii) of the Fair Credit Reporting Act (15 U.S.C. 1681a(d)(2)(A)(iii)) (that is, notices regarding the ability to opt out of disclosures of information among affiliates); (8) Your policies and practices with respect to protecting the confidentiality and security of nonpublic personal information; and (9) Any disclosure that you make under paragraph (b) of this section. (b) Description of nonaffiliated third parties subject to exceptions. (c) Examples Categories of nonpublic personal information that you collect. (i) Information from the consumer; (ii) Information about the consumer's transactions with you or your affiliates; (iii) Information about the consumer's transactions with nonaffiliated third parties; and (iv) Information from a consumer reporting agency. (2) Categories of nonpublic personal information you disclose (ii) If you reserve the right to disclose all of the nonpublic personal information about consumers that you collect, you may simply state that fact without describing the categories or examples of the nonpublic personal information you disclose. (3) Categories of affiliates and nonaffiliated third parties to whom you disclose. (i) Financial service providers, followed by illustrative examples such as mortgage bankers, securities broker-dealers, and insurance agents. (ii) Non-financial companies, followed by illustrative examples such as retailers, magazine publishers, airlines, and direct marketers; and (iii) Others, followed by examples such as nonprofit organizations. (4) Disclosures under exception for service providers and joint marketers. (i) List the categories of nonpublic personal information you disclose, using the same categories and examples you used to meet the requirements of paragraph (a)(2) of this section, as applicable; and (ii) State whether the third party is: (A) A service provider that performs marketing services on your behalf or on behalf of you and another financial institution; or (B) A financial institution with whom you have a joint marketing agreement. (5) Simplified notices. (6) Confidentiality and security. (i) Describe in general terms who is authorized to have access to the information; and (ii) State whether you have security practices and procedures in place to ensure the confidentiality of the information in accordance with your policy. You are not required to describe technical information about the safeguards you use. (d) Short-form initial notice with opt out notice for non-customers (2) A short-form initial notice must: (i) Be clear and conspicuous; (ii) State that your privacy notice is available upon request; and (iii) Explain a reasonable means by which the consumer may obtain that notice. (3) You must deliver your short-form initial notice according to § 313.9. You are not required to deliver your privacy notice with your short-form initial notice. You instead may simply provide the consumer a reasonable means to obtain your privacy notice. If a consumer who receives your short-form notice requests your privacy notice, you must deliver your privacy notice according to § 313.9. (4) Examples of obtaining privacy notice. (i) Provide a toll-free telephone number that the consumer may call to request the notice; or (ii) For a consumer who conducts business in person at your office, maintain copies of the notice on hand that you provide to the consumer immediately upon request. (e) Future disclosures. (1) Categories of nonpublic personal information that you reserve the right to disclose in the future, but do not currently disclose; and (2) Categories of affiliates or nonaffiliated third parties to whom you reserve the right in the future to disclose, but to whom you do not currently disclose, nonpublic personal information. (f) Model privacy form. [65 FR 33677, May 24, 2000, as amended at 74 FR 62965, Dec. 1, 2009] § 313.7 Form of opt out notice to consumers; opt out methods. (a)(1) Form of opt out notice. (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) Examples Adequate opt out notice. (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 § 313.6(a) (2) and (3) 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) Reasonable opt out means. (A) Designate check-off boxes in a prominent position on the relevant forms with the opt out notice; (B) Include a reply form that includes the address to which the form should be mailed; or (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) Unreasonable opt out means. do not (A) The only means of opting out is for the consumer to write his or her own letter to exercise that opt out right; or (B) The only means of opting out as described in any notice subsequent to the initial notice is to use a check-off box that you provided with the initial notice but did not include with the subsequent notice. (iv) Specific opt out means. (b) Same form as initial notice permitted. (c) Initial notice required when opt out notice delivered subsequent to initial notice. (d) Joint relationships. (2) Any of the joint consumers may exercise the right to opt out. You may either: (i) Treat an opt out direction by a joint consumer as applying to all of the associated joint consumers; or (ii) Permit each joint consumer to opt out separately. (3) If you permit each joint consumer to opt out separately, you must permit one of the joint consumers to opt out on behalf of all of the joint consumers. (4) You may not require all any (5) Example. (i) Send a single opt out notice to John's address, but you must accept an opt out direction from either John or Mary. (ii) Treat an opt out direction by either John or Mary as applying to the entire account. If you do so, and John opts out, you may not require Mary to opt out as well before implementing John's opt out direction. (iii) Permit John and Mary to make different opt out directions. If you do so, (A) You must permit John and Mary to opt out for each other; (B) If both opt out, you must permit both to notify you in a single response (such as on a form or through a telephone call); and (C) If John opts out and Mary does not, you may only disclose nonpublic personal information about Mary, but not about John and not about John and Mary jointly. (e) Time to comply with opt out. (f) Continuing right to opt out. (g) Duration of consumer's opt out direction. (2) When a customer relationship terminates, the customer's opt out direction continues to apply to the nonpublic personal information that you collected during or related to that relationship. If the individual subsequently establishes a new customer relationship with you, the opt out direction that applied to the former relationship does not apply to the new relationship. (h) Delivery. (i) Model privacy form. [65 FR 33677, May 24, 2000, as amended at 74 FR 62966, Dec. 1, 2009] § 313.8 Revised privacy notices. (a) General rule. (1) You have provided to the consumer a clear and conspicuous revised notice that accurately describes your policies and practices; (2) You have provided to the consumer a new opt out notice; (3) You have given the consumer a reasonable opportunity, before you disclose the information to the nonaffiliated third party, to opt out of the disclosure; and (4) the consumer does not opt out. (b) Examples (i) Disclose a new category of nonpublic personal information to any nonaffiliated third party; (ii) Disclose nonpublic personal information to a new category of nonaffiliated third party; or (iii) Disclose nonpublic personal 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 you disclose nonpublic personal information to a new nonaffiliated third party that you adequately described in your prior notice. (c) Delivery. § 313.9 Delivering privacy and opt out notices. (a) How to provide notices. (b)(1) Examples of reasonable expectation of actual notice. (i) Hand-deliver a printed copy of the notice to the consumer; (ii) Mail a printed copy of the notice to the last known address of the consumer; (iii) For the consumer who conducts transactions electronically, clearly and conspicuously post the notice on the electronic site and require the consumer to acknowledge receipt of the notice as a necessary step to obtaining a particular financial product or service; (iv) For an isolated transaction with the consumer, such as an ATM transaction, post the notice on the ATM screen and require the consumer to acknowledge receipt of the notice as a necessary step to obtaining the particular financial product or service. (2) Examples of unreasonable expectation of actual notice. not, (i) Only post a sign in your branch or office or generally publish advertisements of your privacy policies and practices; (ii) Send the notice via electronic mail to a consumer who does not obtain a financial product or service from you electronically. (c) Annual notices only. (1) The customer uses your web site to access financial products and services electronically and agrees to receive notices at the web site and you post your current privacy notice continuously in a clear and conspicuous manner on the web site; or (2) The customer has requested that you refrain from sending any information regarding the customer relationship, and your current privacy notice remains available to the customer upon request. (d) Oral description of notice insufficient. (e) Retention or accessibility of notices for customers (2) Examples of retention or accessibility. (i) Hand-deliver a printed copy of the notice to the customer; (ii) Mail a printed copy of the notice to the last known address of the customer; or (iii) Make your current privacy notice available on a web site (or a link to another web site) for the customer who obtains a financial product or service electronically and agrees to receive the notice at the web site. (f) Joint notice with other financial institutions. (g) Joint relationships. Subpart B—Limits on Disclosures § 313.10 Limits on disclosure of non-public personal information to nonaffiliated third parties. (a)(1) Conditions for disclosure. (i) You have provided to the consumer an initial notice as required under § 313.4; (ii) You have provided to the consumer an opt out notice as required in § 313.7; (iii) You have given the consumer a reasonable opportunity, before you disclose the information to the nonaffiliated third party, to opt out of the disclosure; and (iv) The consumer does not opt out. (2) Opt out definition. (3) Examples of reasonable opportunity to opt out. (i) By mail. (ii) By electronic means. (iii) Isolated transaction with consumer. (b) Application of opt out to all consumers and all nonpublic personal information (2) Unless you comply with this section, you may not, directly or through any affiliate, disclose any nonpublic personal information about a consumer that you have collected, regardless of whether you collected it before or after receiving the direction to opt out from the consumer. (c) Partial opt out. § 313.11 Limits on redisclosure and reuse of information. (a)(1) Information you receive under an exception. (i) You may disclose the information to the affiliates of the financial institution from which you received the information; (ii) You may disclose the information to your affiliates, but your affiliates may, in turn, disclose and use the information only to the extent that you may disclose and use the information; and (iii) You may disclose and use the information pursuant to an exception in § 313.14 or § 313.15 in the ordinary course of business to carry out the activity covered by the exception under which you received the information. (2) Example. (b)(1) Information you receive outside of an exception. (i) To the affiliates of the financial institution from which you received the information; (ii) To your affiliates, but your affiliates may, in turn, disclose the information only to the extent that you can disclose the information; and (iii) To any other person, if the disclosure would be lawful if made directly to that person by the financial institution from which you received the information. (2) Example. (i) You may use that list for your own purposes; and (ii) You may disclose that list to another nonaffiliated third party only if the financial institution from which you purchased the list could have lawfully disclosed the list to that third party. That is, you may disclose the list in accordance with the privacy policy of the financial institution from which you received the list, as limited by the opt out direction of each consumer whose nonpublic personal information you intend to disclose, and you may disclose the list in accordance with an exception in § 313.14 or § 313.15, such as to your attorneys or accountants. (c) Information you disclose under an exception. (1) The third party may disclose the information to your affiliates; (2) The third party may disclose the information to its affiliates, but its affiliates may, in turn, disclose and use the information only to the extent that the third party may disclose and use the information; and (3) The third party may disclose and use the information pursuant to an exception in § 313.14 or § 313.15 in the ordinary course of business to carry out the activity covered by the exception under which it received the information. (d) Information you disclose outside of an exception. (1) To your affiliates; (2) To its affiliates, but its affiliates, in turn, may disclose the information only to the extent the third party can disclose the information; and (3) To any other person, if the disclosure would be lawful if you made it directly to that person. § 313.12 Limits on sharing account number information for marketing purposes. (a) General prohibition on disclosure of account numbers. (b) Exceptions. (1) To your agent or service provider solely in order to perform marketing for your own products or services, as long as the agent or service provider is not authorized to directly initiate charges to the account; or (2) To a participant in a private label credit card program or an affinity or similar program where the participants in the program are identified to the customer when the customer enters into the program. (c) Examples Account number. (2) Transaction account. Subpart C—Exceptions § 313.13 Exception to opt out requirements for service providers and joint marketing. (a) General rule. (i) Provide the initial notice in accordance with § 313.4; and (ii) Enter into a contractual agreement with the third party that prohibits the third party from disclosing or using the information other than to carry out the purposes for which you disclosed the information, including use under an exception in § 313.14 or § 313.15 in the ordinary course of business to carry out those purposes. (2) Example. (b) Service may include joint marketing. (c) Definition of joint agreement. § 313.14 Exceptions to notice and opt out requirements for processing and servicing transactions. (a) Exceptions for processing transactions at consumer's request. (1) Servicing or processing a financial product or service that a consumer requests or authorizes; (2) Maintaining or servicing the consumer's account with you, or with another entity as part of a private label credit card program or other extension of credit on behalf of such entity; or (3) A proposed or actual securitization, secondary market sale (including sales of servicing rights), or similar transaction related to a transaction of the consumer. (b) Necessary to effect, administer, or enforce a transaction (1) Required, or is one of the lawful or appropriate methods, to enforce your rights or the rights of other persons engaged in carrying out the financial transaction or providing the product or service; or (2) Required, or is a usual, appropriate or acceptable method: (i) To carry out the transaction or the product or service business of which the transaction is a part, and record, service, or maintain the consumer's account in the ordinary course of providing the financial service or financial product; (ii) To administer or service benefits or claims relating to the transaction or the product or service business of which it is a part; (iii) To provide a confirmation, statement, or other record of the transaction, or information on the status or value of the financial service or financial product to the consumer or the consumer's agent or broker; (iv) To accrue or recognize incentives or bonuses associated with the transaction that are provided by you or any other party; (v) To underwrite insurance at the consumer's request or for reinsurance purposes, or for any of the following purposes as they relate to a consumer's insurance: account administration, reporting, investigating, or preventing fraud or material misrepresentation, processing premium payments, processing insurance claims, administering insurance benefits (including utilization review activities), participating in research projects, or as otherwise required or specifically permitted by Federal or State law; (vi) In connection with: (A) The authorization, settlement, billing, processing, clearing, transferring, reconciling or collection of amounts charged, debited, or otherwise paid using a debit, credit, or other payment card, check, or account number, or by other payment means; (B) The transfer of receivables, accounts, or interests therein; or (C) The audit of debit, credit, or other payment information. § 313.15 Other exceptions to notice and opt out requirements. (a) Exceptions to opt out requirements. (1) With the consent or at the direction of the consumer, provided that the consumer has not revoked the consent or direction; (2)(i) To protect the confidentiality or security of your records pertaining to the consumer, service, product, or transaction; (ii) To protect against or prevent actual or potential fraud, unauthorized transactions, claims, or other liability; (iii) For required institutional risk control or for resolving consumer disputes or inquiries; (iv) To persons holding a legal or beneficial interest relating to the consumer; or (v) To persons acting in a fiduciary or representative capacity on behalf of the consumer; (3) To provide information to insurance rate advisory organizations, guaranty funds or agencies, agencies that are rating you, persons that are assessing your compliance with industry standards, and your attorneys, accountants, and auditors; (4) To the extent specifically permitted or required under other provisions of law and in accordance with the Right to Financial Privacy Act of 1978 (12 U.S.C. 3401 et seq. (5)(i) To a consumer reporting agency in accordance with the Fair Credit Reporting Act (15 U.S.C. 1681 et seq. (ii) From a consumer report reported by a consumer reporting agency; (6) In connection with a proposed or actual sale, merger, transfer, or exchange of all or a portion of a business or operating unit if the disclosure of nonpublic personal information concerns solely consumers of such business or unit; or (7)(i) To comply with Federal, State, or local laws, rules and other applicable legal requirements; (ii) To comply with a properly authorized civil, criminal, or regulatory investigation, or subpoena or summons by Federal, State, or local authorities; or (iii) To respond to judicial process or government regulatory authorities having jurisdiction over you for examination, compliance, or other purposes as authorized by law. (b) Examples of consent and revocation of consent. (2) A consumer may revoke consent by subsequently exercising the right to opt out of future disclosures of nonpublic personal information as permitted under § 313.7(f). [65 FR 33677, May 24, 2000, as amended at 86 FR 70026, Dec. 9, 2021] Subpart D—Relation to Other Laws; Effective Date § 313.16 Protection of Fair Credit Reporting Act. Nothing in this part shall be construed to modify, limit, or supersede the operation of the Fair Credit Reporting Act (15 U.S.C. 1681 et seq. § 313.17 Relation to State laws. (a) In general. (b) Greater protection under State law. Appendix A to Part 313—Model Privacy Form A. The Model Privacy Form 1. How the Model Privacy Form is Used (a) The model form may be used, at the option of a financial institution, including a group of financial institutions that use a common privacy notice, to meet the content requirements of the privacy notice and opt-out notice set forth in §§ 313.6 and 313.7 of this part. (b) The model form is a standardized form, including page layout, content, format, style, pagination, and shading. Institutions seeking to obtain the safe harbor through use of the model form may modify it only as described in these Instructions. (c) Note that disclosure of certain information, such as assets, income, and information from a consumer reporting agency, may give rise to obligations under the Fair Credit Reporting Act [15 U.S.C. 1681-1681x] (FCRA), such as a requirement to permit a consumer to opt out of disclosures to affiliates or designation as a consumer reporting agency if disclosures are made to nonaffiliated third parties. (d) The word “customer” may be replaced by the word “member” whenever it appears in the model form, as appropriate. 2. The Contents of the Model Privacy Form The model form consists of two pages, which may be printed on both sides of a single sheet of paper, or may appear on two separate pages. Where an institution provides a long list of institutions at the end of the model form in accordance with Instruction C.3(a)(1), or provides additional information in accordance with Instruction C.3(c), and such list or additional information exceeds the space available on page two of the model form, such list or additional information may extend to a third page. (a) Page One. (1) Date last revised (upper right-hand corner). (2) Title. (3) Key frame (Why?, What?, How?). (4) Disclosure table (“Reasons we can share your personal information”). (5) “To limit our sharing” box, as needed, for the financial institution's opt-out information. (6) “Questions” box, for customer service contact information. (7) Mail-in opt-out form, as needed. (b) Page Two. (1) Heading (Page 2). (2) Frequently Asked Questions (“Who we are” and “What we do”). (3) Definitions. (4) “Other important information” box, as needed. 3. The Format of the Model Privacy Form The format of the model form may be modified only as described below. (a) Easily readable type font. (b) Logo. (c) Page size and orientation. (d) Color. (e) Languages. C. Information Required in the Model Privacy Form The information in the model form may be modified only as described below: 1. Name of the Institution or Group of Affiliated Institutions Providing the Notice Insert the name of the financial institution providing the notice or a common identity of affiliated institutions jointly providing the notice on the form wherever [name of financial institution] appears. 2. Page One (a) Last revised date. (b) General instructions for the “What?” box. (2) Institutions must use five (5) of the following terms to complete the bulleted list: income; account balances; payment history; transaction history; transaction or loss history; credit history; credit scores; assets; investment experience; credit-based insurance scores; insurance claim history; medical information; overdraft history; purchase history; account transactions; risk tolerance; medical-related debts; credit card or other debt; mortgage rates and payments; retirement assets; checking account information; employment information; wire transfer instructions. (c) General instructions for the disclosure table. See (d) Specific disclosures and corresponding legal provisions. For our everyday business purposes. (2) For our marketing purposes. (3) For joint marketing with other financial companies. (4) For our affiliates' everyday business purposes—information about transactions and experiences. (5) For our affiliates' everyday business purposes—information about creditworthiness. (6) For our affiliates to market to you. (7) For nonaffiliates to market to you. (e) To limit our sharing: only (f) Questions box. (g) Mail-in opt-out form. only see see (1) Joint accountholder. (2) FCRA Section 603(d)(2)(A)(iii) opt-out. (3) FCRA Section 624 opt-out. (4) Nonaffiliate opt-out. (5) Additional opt-outs. or (h) Barcodes. 3. Page Two (a) General Instructions for the Questions. (1) “Who is providing this notice?” (2) “How does [name of financial institution] protect my personal information?” (3) “How does [name of financial institution] collect my personal information?” (4) “Why can't I limit all sharing?” “Other important information” (5) “What happens when I limit sharing for an account I hold jointly with someone else?” (b) General Instructions for the Definitions. (1) Affiliates. affiliate information (i) If it has no affiliates, state: “[ name of financial institution has no affiliates”; (ii) If it has affiliates but does not share personal information, state: “ [name of financial institution] does not share with our affiliates (iii) If it shares with its affiliates, state, as applicable: “Our affiliates include companies with a [common corporate identity of financial institution] name; financial companies such as [insert illustrative list of companies]; nonfinancial companies, such as [insert illustrative list of companies;] and others, such as [insert illustrative list].” (2) Nonaffiliates. nonaffiliate information (i) If it does not share with nonaffiliated third parties, state: “ [name of financial institution] does not share with nonaffiliates so they can market to you” (ii) If it shares with nonaffiliated third parties, state, as applicable: “Nonaffiliates we share with can include [list categories of companies such as mortgage companies, insurance companies, direct marketing companies, and nonprofit organizations].” (3) Joint Marketing. joint marketing (i) If it does not engage in joint marketing, state: “ [name of financial institution ] doesn't jointly market” (ii) If it shares personal information for joint marketing, state, as applicable: “ Our joint marketing partners include [list categories of companies such as credit card companies]. (c) General instructions for the “Other important information” box. (1) State and/or international privacy law information; and/or (2) Acknowledgment of receipt form. [74 FR 62966, Dec. 1, 2009]