The eight regulatory agencies that released the final model privacy notice form that satisfies the disclosure requirements under the Gramm-Leach-Bliley Act have released an Online Form Builder to assist financial institutions in meeting their obligations under the act.
model form
Innocent Mall Shoppers, You’re Off the Hook: Federal Agencies Release Model GLBA Privacy Notice Form
By Proskauer Rose on
On November 17, 2009, eight federal regulatory agencies released their final model privacy notice form that is intended to make it easier for consumers to understand how financial institutions collect and share information about them.
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Feud of the Forms — The Battle of The GLBA Notices
By Proskauer Rose on
The report by Drs. Alan Levy and Manoj Hastak, Consumer Comprehension of Financial Privacy Notices, uses the results of a mall-intercept study to compare the performance of a prototype financial privacy notice developed by the Kleimann Communication Group (“KCG”) during the first phase of the INP against three alternative notices. The Levy-Hastak report, among other things, confirms what proponents of the INP suspected – some GLBA privacy notices are largely ineffective in conveying information to consumers that allows them to make rational decisions about the sharing of their personal financial information.
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