Certain financial institutions will be exempt from having to send customers annual privacy notices as a result of the Consumer Financial Protection Bureau’s (CFPB) recently finalized rule amending Regulation P per updates to the Gramm-Leach-Bliley Act approved in December 2015.
To be exempt, an institution must meet two conditions regarding the types of entities with which it shares customer information and whether it has changed its disclosure policies.
Find out more about what institutions qualify for the exemption.