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#2047601 - 11/02/15 08:27 PM Statement Message for Privacy
moola741 Offline
Member
Joined: Dec 2003
Posts: 86
Is there model language that we can use for privacy policy notification for our monthly statements?

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Operations Compliance
#2047604 - 11/02/15 08:32 PM Re: Statement Message for Privacy moola741
BrianC Offline
Power Poster
BrianC
Joined: Nov 2004
Posts: 6,975
Illinois
1016.9(c)(2)(iii)

An example of a statement that satisfies paragraph (c)(2)(ii)(A) of this section is as follows with the words “Privacy Notice” in boldface or otherwise emphasized: Privacy Notice—Federal law requires us to tell you how we collect, share, and protect your personal information. Our privacy policy has not changed and you may review our policy and practices with respect to your personal information at [Web address] or we will mail you a free copy upon request if you call us at [telephone number].
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#2049244 - 11/12/15 01:48 PM Re: Statement Message for Privacy moola741
Banker57 Offline
Gold Star
Joined: Jul 2010
Posts: 439
Minnesota
If we have several family members with accounts or names on the same account, all with the same mailing address, must we sent individual notices or can one notice be sent addressed to all of the names?

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#2049246 - 11/12/15 02:00 PM Re: Statement Message for Privacy moola741
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 85,417
Galveston, TX
1016.9(g) If two or more consumers jointly obtain a financial product or service from you, you may satisfy the initial, annual, and revised notice requirements of §§1016.4(a), 1016.5(a), and 1016.8(a), respectively, by providing one notice to those consumers jointly.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2049265 - 11/12/15 03:08 PM Re: Statement Message for Privacy moola741
Banker57 Offline
Gold Star
Joined: Jul 2010
Posts: 439
Minnesota
Additionally the annual notice need only be sent to consumers and not business customers, correct?

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#2049269 - 11/12/15 03:11 PM Re: Statement Message for Privacy moola741
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 85,417
Galveston, TX
Part 1016 - Privacy of Consumer Financial Information (Regulation P)
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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