CFA comments on the proposal by the Consumer Financial Protection Bureau (CFPB) to revise Regulation P (Privacy of Consumer Financial Information) in regard to the delivery of annual privacy notices. We generally support the proposal because it recognizes the importance of the privacy disclosures required under the Gramm-Leach-Bliley Act (GLBA)and the Fair Credit Reporting Act (FCRA) and encourages financial institutions to limit sharing of customers’ nonpublic personal information by allowing them to use an alternative method of providing those disclosures if they do so. In these comments we will elaborate on why we support the proposal and offer suggestions for additional changes that the CFPB should consider.

Read the entire comments here.