Answer:
The interagency rules on Privacy of Consumer Information contain language that responds to this question. First in XXX.9(a) it says:
(a) How to provide notices.— You must provide any privacy notices and opt out notices, including short-form initial notices, that this part requires so that each consumer can reasonably be expected to receive actual notice in writing or, if the consumer agrees, electronically.
In XXX.9(c)(1) it discusses provision of the annual privacy notice electronically. It states:(c) Annual notices only.— You may reasonably expect that a customer will receive actual notice of your annual privacy notice if:
(1) The customer uses your web site to access financial products and services electronically and agrees to receive notices at the web site, and you post your current privacy notice continuously in a clear and conspicuous manner on the web site; or
(2) The customer has requested that you refrain from sending any information regarding the customer relationship, and your current privacy notice remains available to the customer upon request.
Based on this, I think the answer to your first question is "Yes". I don't see anything to support an affirmative answer to your second question, so I'd probably refrain from relying on that method.
First published on BankersOnline.com 11/19/12
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