3.128- What are Acceptable delivery methods for a privacy notice (GLBA)?

As per the GLBA, a privacy notices to each consumer or customer must be given in writing, or, if the consumer or customer agrees, electronically.

The written notices may be delivered by mail or by hand.

For individuals who conduct transactions with the institution electronically, they may post their privacy notice on their website and require customers or clients to acknowledge receiving the notice as a necessary part of obtaining a particular product or service.

For annual notices, a financial institution may reasonably expect that their customers have received the notice if they use the institution's website to access their financial products or services and agree to receive notices at the financial institution's website, and the notice is posted continuously in a clear and conspicuous manner on the website.

Notices given orally or posted in an office(s) don't comply with the rule.

Related Topics: What is the Gramm-Leach Bailey Act? What are Prohibited Acts? Explain the consequences of Violations of Gramm-Leach Bliley Act

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