Financial Privacy & GLBA Update: Including the New Model Privacy Notice Form

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Banks have traditionally safe-guarded their customers’ financial information.  Now under Gramm-Leach-Bliley Act (GLBA), banks must provide periodic notices to customers regarding the bank’s information sharing practices and must inform customers of their right to opt-out.  Recently, the FDIC and other federal agencies released a new model privacy notice form that is designed to make it easier for consumers to understand how financial institutions collect and share personal information.

Banks that provide this model privacy notice form to their customers will be in compliance with GLBA.  However, the previous safe harbor provisions under GLBA will be eliminated on January 1, 2011.  Therefore, to obtain a compliance safe harbor after January 1, 2011, your bank must use the new model privacy notice form.  This webinar will review the new model privacy notice form, explain how the new form should be used, and cover all the financial privacy duties a bank owes to its customers.

Continuing Education: Attendance verification for CE credits provided upon request.

HIGHLIGHTS
•    Background on financial privacy rules
•    Difference between GLBA and the Federal Right to Privacy Act
•    Detailed review of new model privacy notice form
•    Exceptions to the consumer’s right to opt-out
•    Limitations on sharing of consumer information
•    Privacy concerns with third-party vendors

WHO SHOULD ATTEND?
This informative session is designed for deposit operations personnel, loan operations staff, retail officers, commercial officers, attorneys, compliance officers, and managers.

MEET THE PRESENTER
Elizabeth Fast, JD, CPA,
Banker’s Choice