Privacy of Consumer Financial Information

During this 90-minute session, participants will learn about the privacy requirements imposed upon their financial institution by both Regulation P and the Right to Financial Privacy Act.

Our discussion of Regulation P will focus on the following:

  • Notice requirements;
  • Providing consumers a reasonable opportunity to opt-out of information sharing; 
  • Limits on the re-disclosure of information; and
  • Permitted exceptions to the opt-out requirements.

The Right to Financial Privacy Act (RFPA) prohibits the release of financial information about consumers to an agency of the federal government unless an exception applies. We’ll discuss these various exceptions. In addition, we’ll cover the new disclosure requirements concerning suspected senior citizen financial exploitation under the RFPA.

Covered Topics

  • Regulation P's notice requirements
  • Regulation P's opt-out rules
  • Regulation P's limits on the re-disclosure of information
  • Permitted exceptions to Regulation P's opt-out rules
  • Circumstances under which financial information may be shared with the federal government under the Right to Financial Privacy Act (RFPA)
  • Disclosure requirements concerning suspected senior citizen financial exploitation under the RFPA

Who Should Attend?

Auditors, compliance officers, privacy officers and management personnel would all benefit from this course.