Agencies Release Tool for Model Consumer Privacy Notices
PRIVACY LAW—U.S.April 16, 2010
Federal agencies released a tool yesterday to help financial institutions create customized versions of model consumer privacy notices. According to a joint press release, the Online Form Builder is based on the model form regulation published in the Federal Register last December under the Gramm-Leach-Bliley Act, and includes several options and instructions. "To obtain a legal 'safe harbor' and so satisfy the law's disclosure requirements, institutions must follow the instructions in the model form regulation when using the Online Form Builder," the release states. Eight agencies collaborated on the form.