---
title: Banking Regulations Compliance | Privacy Notice Exemption & Opt-Outs
description: Banker’s Compliance Consulting offers different types of BSA Training & Banking Regulations Consulting | Privacy Notice Exemption & Opt-Outs
---

[Banker's Compliance Consulting Blog ](https://blog.bankerscompliance.com/en)

# [Banking Regulations Compliance | Privacy Notice Exemption & Opt-Outs](https://blog.bankerscompliance.com/en/annual-privacy-notice-exemption-fcra-opt-outs)

 Written by [Diane Dean](https://blog.bankerscompliance.com/en/author/diane-dean) | Aug 21, 2018 7:58:45 AM

We were obviously happy to see Regulation P was finally updated, which we passed along to you [last week](https://www.bankerscompliance.com/204929-2/).  As a reminder, you qualify for the exemption to the annual notice requirement if you 1) Are not required to provide a Gramm-Leach-Bliley Act (GLBA) opt-out; and, 2) You have not changed your Regulation P sharing practices since your last notice was provided.

 

So, what if you aren’t required to provide an opt-out under GLBA but you ARE required to provide an opt-out under the Fair Credit Reporting Act (FCRA)?  The FCRA requires an opt-out for banks that share with affiliates for marketing purposes and another opt-out for banks that share credit report or other information (beyond first-hand, transaction and experience information) with affiliates.  There is some good news buried within the [Final Rule](https://files.consumerfinance.gov/f/documents/bcfp_glba-privacy-notices_final-rule_amendment_2018-08.pdf)!

 

You can still qualify for the GLBA exemption from sending annual privacy notices even if you provide an opt-out for either of the FCRA sharing provisions.  However, you must still meet any FCRA requirements to provide subsequent opt-outs.  While these opt-outs don’t need to be provided annually, you do need to give the opt-out prior to sharing information that falls under the FCRA.  If you allow an opt-out to expire (for example, affiliate marketing must remain in effect for at least five years), you would need to provide an opt-out again, prior to sharing.

 

Published  
 2018/08/21  
 Diane Dean

[View full post](https://blog.bankerscompliance.com/en/annual-privacy-notice-exemption-fcra-opt-outs)

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