Regulation P, otherwise known as “Privacy of Consumer Financial Information”, …governs the treatment of nonpublic personal information about consumers by… a financial institution and:
…(1) Requires a financial institution to provide notice to customers about its privacy policies and practices;
(2) Describes the conditions under which a financial institution may disclose nonpublic personal information about consumers to nonaffiliated third parties; and
(3) Provides a method for consumers to prevent a financial institution from disclosing that information to most nonaffiliated third parties by “opting out” of that disclosure….
In other words, financial institutions need to inform consumers if they plan to share their nonpublic personal information, how/when they will share that information and allow the consumer to opt-out of such sharing, in certain circumstances.
The Privacy rules were finalized in May 2000 and were initially put into place to combat the perceived threat of the internet age.
Kevin explains more in the video.
Published 2026/06/17