Federal regulators released an Online Form Builder that financial institutions can download and use to develop and print customized versions of a model consumer privacy notice.
The Online Form Builder, based on the model form regulation published in the Federal Register on December 1, 2009, under the Gramm-Leach-Bliley Act, is available with several options. Easy-to-follow instructions for the form builder will guide an institution to select the version of the model form that fits its practices, such as whether the institution provides an opt-out for consumers.
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.
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Article originally appeared on Banking Spectrum (https://www.bankingspectrum.com/).
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