Regulation P, otherwise known as the Privacy of Consumer Financial Information Rule, came about as part of the Gramm-Leach-Bliley Act. It is all about protecting a consumer’s nonpublic personal information that institutions obtain about a consumer. Nonpublic personal information is just that…personally identifiable financial information that is not publicly available. This could include things like account numbers, balance information, payment history, overdraft history, information from a consumer report, or even that a consumer has obtained a financial product or service from you. Regulation P generally requires that you tell consumers upfront how you use their nonpublic personal information, how you protect it, when you might disclose it to others and give them a right to opt-out. But, there are a lot of exceptions you need to be aware of as well.
Kevin explains more in the video.
Published
2025/06/13
