Regulation P

News & Analysis as of

CFPB Issues Consent Order against San Diego-Based Student Debt Loan Relief Company

On March 30, the CFPB filed a consent order against a San Diego-based student debt relief operation for alleged violations of the CFPA, the Telemarketing Sales Rule, and Regulation P. According to the CFPB, the company –...more

Washington Proposes Amendments to Money Transmitters Rules

Recently, the Washington Department of Financial Institutions (DFI) announced that on March 29, 2016 it will hold a hearing regarding proposed amendments to the 2015 Uniform Money Services Act. New sections to the proposal...more

CFPB Files Suit Against Student Financial Aid Company

On October 29, the CFPB filed a complaint in the U.S. District Court for the Southern District of California against a California-based student financial aid operation and its owner (Defendants). According to the complaint,...more

CFPB sues company and owner for alleged student financial aid scam

A new lawsuit filed by the CFPB in a California federal district court alleges that the defendants, a company and its individual owner, are engaged in a nationwide student financial aid scam. In addition to injunctive relief,...more

Financial Regulatory Developments Focus - October 2015 #2

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

A Treasure Trove: Publication of Complaint Data by the CFPB

The CFPB complaint database was created with altruistic intentions. They envisioned a tool that consumers could use to search a downloadable database for research on a product or specific lender, just as they would research...more

Financial Services Regulatory Bulletin - December 2014

In this issue: - CFPB Issues Final Rule on Regulation P: Annual Privacy Notices Can Be Delivered By Posting Online - ‘It Takes Hutzpah!’: D.C. Federal Judge Issues Stunning Rebuke of HUD Disparate Impact Rule...more

Financial Institutions May Post Online Privacy Disclosures

The Consumer Financial Protection Bureau ("CFPB") recently amended Regulation P, which requires – in connection with the Gramm-Leach-Bliley Act – that financial institutions provide an annual disclosure of their privacy...more

CFPB Finalizes Rule To Limit Relief From Annual Privacy Notice Delivery Requirements

On October 20, the CFPB finalized its amendment to Regulation P, which requires that financial institutions meet specific consumer data-sharing requirements, including the delivery of annual privacy notices. Under the new...more

Financial Institutions Authorized to Use Websites for Annual Privacy Notice

Banks and other financial institutions may be able to avoid costly manual mailings of annual privacy notices to customers and instead publish annual privacy notices on their websites under a new rule issued by the federal...more

New Option to Provide Annual Privacy Notices Online

CFPB Amends Regulation P to Permit Financial Institutions to Post Annual Privacy Notices Online in Lieu of Delivering Hard Copies to Customers - The Consumer Financial Protection Bureau (CFPB) has always touted itself...more

CFPB Issues Final Rule on Gramm-Leach-Bliley Act Annual Privacy Notices

The Consumer Financial Protection Bureau has issued a final rule that amends Regulation P to allow financial institutions that meet certain requirements to deliver annual privacy notices to their customers using an...more

CFPB Amends Regulation P to Eliminate Mailing Requirement for Annual Privacy Notices in Certain Circumstances

The Consumer Financial Protection Bureau (“CFPB”) has issued a final rule that will allow a financial institution to post its annual privacy notice on its website in lieu of mailing it to customers if certain conditions are...more

Federal Reserve Board Finalizes Rule Amending Red Flags Rule

The FRB repealed its several regulations including Regulation DD, Truth in Savings and, Regulation P, Privacy of Consumer Financial Information. The Dodd-Frank Act granted rulemaking authority for a number of consumer...more

Federal Reserve Board Repeals Duplicative Regulations, Finalizes Red Flag Rule Amendments

On May 22, the Federal Reserve Board repealed its Regulation DD, which implements TISA, and Regulation P, which implements Section 504 of the GLBA because the Dodd-Frank Act transferred rulemaking authority for those laws to...more

CFPB extends comment period on privacy notice proposal

The CFPB is extending the comment period on its proposed rule that would amend Regulation P to allow financial institutions that satisfy certain conditions to deliver annual privacy notices to their customers using an...more

CFPB Proposes New Rules on Gramm-Leach-Bliley Act Annual Privacy Notices

The Consumer Financial Protection Bureau recently published a proposed rule that would amend Regulation P to allow financial institutions, under certain circumstances, to deliver annual privacy notices to their customers...more

CFPB proposes new rule on GLBA annual privacy notice

The CFPB has published a proposed rule that would amend Regulation P to allow financial institutions that satisfy certain conditions to deliver annual privacy notices to their customers using an alternative online delivery...more

CFPB Proposes Alternative Delivery Method for GLBA Privacy Notice

The CFPB has proposed rules to afford financial institutions an alternative delivery method for annual privacy notices under the privacy provisions of GLBA and Regulation P (12 CFR part 1016). This alternative delivery method...more

CFPB Proposes Rule Allowing Online Posting Of GLB Privacy Notices

On May 6, the Consumer Financial Protection Bureau ("the CFPB" or "the Bureau") announced a proposed rule that would permit financial institutions to post annual privacy notices required by the Gramm-Leach-Bliley Act ("GLBA")...more

CFPB Proposes Rule on Privacy Notices

The CFPB moved one step closer to allowing online privacy disclosures in lieu of individually-delivered disclosures, proposing a rule to amend Regulation P, the implementing regulation for the Gramm-Leach-Bliley Act to create...more

CFPB Proposes Limited Relief From Annual Privacy Notice Delivery Requirements

On May 7, the CFPB issued a proposed rule that would provide financial institutions an alternative method for delivering annual privacy notices. The Gramm-Leach-Bliley Act (GLBA) and Regulation P require financial...more

FRB Proposes to Repeal Regulations P and DD and Amend Regulation V

The FRB issued a Notice of Proposed Rulemaking to repeal its regulation implementing the Truth in Savings Act, Regulation DD, and the regulation implementing the provisions of the Gramm-Leach Bliley Act protecting the privacy...more

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