This issue of
Compliance Insights discusses the Bureau of Consumer Financial Protection’s final rule amending Regulation P, which implements certain provisions of the Gramm-Leach-Billy Act.
Regulation P provides an exemption to the annual privacy notice requirement for institutions whose privacy practices meet certain criteria. In addition to providing an exemption to the annual privacy notice requirement, the changes to Regulation P also establish timing requirements for institutions that previously utilized the exemption but no longer qualify.