Printer Friendly
The Free Library
4,474,257 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

FEDERAL BANKING AGENCIES ALLOW PRIVACY NOTICES UNDER EXISTING FAIR CREDIT REPORTING ACT.


Federal banking agencies announced on March 14, 2001, that any final Fair Credit Reporting Act (FRCA FRCA - Fair Resolution Collision Algorithm
FRCA - Farming and Rural Conservation Agency
FRCA - Fellow of the Royal College of Anaesthetists (UK)
FRCA - Fire Retardant Chemicals Association
FRCA - Free Reformed Churches of Australia
) rule will not require depository institutions to revise Gramm-Leach-Bliley (GLB GLB - Gay Lesbian Bisexual
GLB - Gemeenschappelijk Landbouwbeleid (Dutch: Common Agricultural Policy/ European Commission, aka: CAP)
GLB - Global Load Balancers
GLB - Gramm-Leach-Bliley Act of 1999
GLB - Greatest Lower Bound (mathematics)
) Act privacy notices prepared in accordance with existing FCRA FCRA - Fair Credit Reporting Act (US)
FCRA - Fabric Care Research Association
FCRA - Fecal Collection Receptacle Assembly
FCRA - Federal Credit Reform Act
FCRA - Florida Cancer Registrars Association
FCRA - Florida Cartridge Remanufacturers Association
FCRA - Florida Civil Rights Act
FCRA - Florida Civil Rights Association
FCRA - Foreign Contribution Regulation Act
 law and delivered to consumers before January 2002.

The agencies will provide guidance on any final FCRA rule concerning the effect that new requirements imposed in the rule will have on notices sent after January 1, 2002.

The agencies indicated in a Federal Register notice that institutions should not delay delivering their privacy notices in anticipation of a final FCRA rule. The Office of Thrift Supervision
Office of Thrift Supervision (OTS)
An agency of the U.S. Treasury department responsible for the U.S. savings and loan industry.
, the Office of the Comptroller of the Currency
Comptroller of the Currency
A government official, appointed by the President of the United States, who keeps control over all national banks, and receives reports from the banks at least quarterly, to be published in newspapers.
, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation jointly issued the notice.

The agencies believe that financial institution customers will benefit by receiving GLB Act privacy notices that accurately describe their institution's information practices before the mandatory GLB Act privacy compliance date, July 1, 2001. In the absence of a final FCRA rule, financial institutions providing GLB Act privacy notices should comply with the FCRA statute when preparing the FCRA portion of their privacy notices.
COPYRIGHT 2001 Board of Governors of the Federal Reserve System
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Federal Reserve Bulletin
Article Type:Brief Article
Geographic Code:1USA
Date:May 1, 2001
Words:191
Previous Article:INTERAGENCY GUIDANCE ON APPROPRIATE ACCOUNTING AND REPORTING FOR LOANS HELD FOR SALE.(Brief Article)
Next Article:AGENCIES EXTEND EFFECTIVE DATE ON BANK INSURANCE RULES.(Brief Article)
Topics:



Related Articles
Statement by Richard A. Small, Assistant Director, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System,...
Guess What? Selling Social Security Numbers Is Legal.(Brief Article)
Lawmakers tackle privacy.
INTERAGENCY PROPOSAL TO LIMIT SHARING OF CONSUMER DATA AMONG FINANCIAL AFFILIATES.(Brief Article)
PRIVACY DISCLOSURES: MAKE THEM COUNT.(Brief Article)
Interagency public workshop on GLB Act privacy notices. (Announcements).(Brief Article)
Interagency guidance on compliance with consumer privacy regulations. (Announcements).(Brief Article)
Exposing legal land mines: protecting the privacy and integrity of e-records is a critical issue for information professionals; understanding...
Privacy: what every manager should know: companies can't afford to ignore the fact that consumers are increasingly concerned about how businesses use...
Tapping our wired lives: sovereignty doesn't just apply to nations. Taking a broader brush stroke, it also includes the privacy and identity of the...

Terms of use | Copyright © 2008 Farlex, Inc. | Feedback | For webmasters | Submit articles