18-EF-11: BCFP - Amendment to the Annual Privacy Notice Requirement

On August 17, 2018, the Bureau of Consumer Financial Protection (Bureau) published a final rule amending Part 503 of the Gramm-Leach-Bliley Act (GLBA) as implemented in Regulation P. The final rule implements a December 2015 statutory amendment to the GLBA which provides an exception to the annual privacy notice requirement for financial institutions, including all credit unions, so long as certain statutory requirements are met

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