12 CFR Appendix A to Part 332 - Sample Clauses
Code of Federal Regulations - Title 12: Banks and Banking (2005)
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TITLE 12 - BANKS AND BANKING
CHAPTER III - FEDERAL DEPOSIT INSURANCE CORPORATION
SUBCHAPTER B - REGULATIONS AND STATEMENTS OF GENERAL POLICY
PART 332 - PRIVACY OF CONSUMER FINANCIAL INFORMATION
subpart d - RELATION TO OTHER LAWS; EFFECTIVE DATE
Appendix A to Part 332 - Sample Clauses
Financial institutions, including a group of financial holding company affiliates that use a common privacy notice, may use the following sample clauses, if the clause is accurate for each institution that uses the notice. (Note that disclosure of certain information, such as assets and income, and information from a consumer reporting agency, may give rise to obligations under the Fair Credit Reporting Act, such as a requirement to permit a consumer to opt out of disclosures to affiliates or designation as a consumer reporting agency if disclosures are made to nonaffiliated third parties.) A1Categories of information you collect (all institutions) You may use this clause, as applicable, to meet the requirement of 332.6(a)(1) to describe the categories of nonpublic personal information you collect.
Sample Clause A1: We collect nonpublic personal information about you from the following sources: • Information we receive from you on applications or other forms; • Information about your transactions with us, our affiliates, or others; and • Information we receive from a consumer reporting agency.
A2Categories of information you disclose (institutions that disclose outside of the exceptions) You may use one of these clauses, as applicable, to meet the requirement of 332.6(a)(2) to describe the categories of nonpublic personal information you disclose. You may use these clauses if you disclose nonpublic personal information other than as permitted by the exceptions in 332.13, 332.14, and 332.15.
Sample Clause A2, Alternative 1: We may disclose the following kinds of nonpublic personal information about you: • Information we receive from you on applications or other forms, such as [provide illustrative examples, such as your name, address, social security number, assets, and income]; • Information about your transactions with us, our affiliates, or others, such as [provide illustrative examples, such as your account balance, payment history, parties to transactions, and credit card usage]; and • Information we receive from a consumer reporting agency, such as [provide illustrative examples, such as your creditworthiness and credit history].
Sample Clause A2, Alternative 2: We may disclose all of the information that we collect, as described [describe location in the notice, such as above or below].
A3Categories of information you disclose and parties to whom you disclose (institutions that do not disclose outside of the exceptions) You may use this clause, as applicable, to meet the requirements of 332.6(a) (2), (3), and (4) to describe the categories of nonpublic personal information about customers and former customers that you disclose and the categories of affiliates and nonaffiliated third parties to whom you disclose. You may use this clause if you do not disclose nonpublic personal information to any party, other than as permitted by the exceptions in 332.14 and 332.15.
Sample Clause A3: We do not disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted by law.
A4Categories of parties to whom you disclose (institutions that disclose outside of the exceptions) You may use this clause, as applicable, to meet the requirement of 332.6(a)(3) to describe the categories of affiliates and nonaffiliated third parties to whom you disclose nonpublic personal information. You may use this clause if you disclose nonpublic personal information other than as permitted by the exceptions in 332.13, 332.14, and 332.15, as well as when permitted by the exceptions in 332.14 and 332.15.
Sample Clause A4: We may disclose nonpublic personal information about you to the following types of third parties: • Financial service providers, such as [provide illustrative examples, such as mortgage bankers, securities broker-dealers, and insurance agents]; • Non-financial companies, such as [provide illustrative examples, such as retailers, direct marketers, airlines, and publishers]; and • Others, such as [provide illustrative examples, such as non-profit organizations].
We may also disclose nonpublic personal information about you to nonaffiliated third parties as permitted by law.
A5Service provider/joint marketing exception You may use one of these clauses, as applicable, to meet the requirements of 332.6(a)(5) related to the exception for service providers and joint marketers in 332.13. If you disclose nonpublic personal information under this exception, you must describe the categories of nonpublic personal information you disclose and the categories of third parties with whom you have contracted.
Sample Clause A5, Alternative 1: We may disclose the following information to companies that perform marketing services on our behalf or to other financial institutions with whom we have joint marketing agreements: • Information we receive from you on applications or other forms, such as [provide illustrative examples, such as your name, address, social security number, assets, and income]; • Information about your transactions with us, our affiliates, or others, such as [provide illustrative examples, such as your account balance, payment history, parties to transactions, and credit card usage]; and • Information we receive from a consumer reporting agency, such as [provide illustrative examples, such as your creditworthiness and credit history].
Sample Clause A5, Alternative 2: We may disclose all of the information we collect, as described [describe location in the notice, such as above or below] to companies that perform marketing services on our behalf or to other financial institutions with whom we have joint marketing agreements.
A6Explanation of opt out right (institutions that disclose outside of the exceptions) You may use this clause, as applicable, to meet the requirement of 332.6(a)(6) to provide an explanation of the consumer's right to opt out of the disclosure of nonpublic personal information to nonaffiliated third parties, including the method(s) by which the consumer may exercise that right. You may use this clause if you disclose nonpublic personal information other than as permitted by the exceptions in 332.13, 332.14, and 332.15.
Sample Clause A6: If you prefer that we not disclose nonpublic personal information about you to nonaffiliated third parties, you may opt out of those disclosures, that is, you may direct us not to make those disclosures (other than disclosures permitted by law). If you wish to opt out of disclosures to nonaffiliated third parties, you may [describe a reasonable means of opting out, such as call the following toll-free number: (insert number)].
A7Confidentiality and security (all institutions) You may use this clause, as applicable, to meet the requirement of 332.6(a)(8) to describe your policies and practices with respect to protecting the confidentiality and security of nonpublic personal information.
Sample Clause A7: We restrict access to nonpublic personal information about you to [provide an appropriate description, such as those employees who need to know that information to provide products or services to you]. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information.
