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CFPB advances privacy disclosure rulemaking
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Banking, Nonbank Financial
Friday, May 9, 2014
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The Consumer Financial Protection Bureau proposed a rule that would allow companies that limit their consumer data-sharing and meet other requirements to post their annual privacy notices online rather than delivering them individually. The CFPB previously indicated it would consider amending its annual privacy notice requirements after industry participants asked the bureau to reduce the regulatory burden for institutions that limit the sharing of information with third parties.
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