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. |
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