Alert April 20, 2010

Regulatory Agencies Make Available Online Model Privacy Notice Form Builder

The federal bank regulatory agencies, NCUA, SEC, CFTC and FTC jointly released an online utility for generating model privacy notices.  The agencies issued a final model privacy notice in November 2009 (as discussed in the November 24, 2009 Alert).  The form builder assists entities in creating a model privacy notice by providing a series of amendable PDF documents with the appropriate document determined by the entity’s information sharing practices.  Use of the model notice form provides a compliance safe harbor with respect to privacy notices required under the Gramm-Leach-Bliley Act and implementing regulations.