Eight federal regulators have released an Online Form Builder that financial institutions can download and use to develop and print customized versions of a model consumer privacy notice under the Gramm-Leach-Bliley Act (GLBA).
The Online Form Builder, based on the model form regulation published in the Federal Register on December 1, 2009, is available with several options. Instructions for the form builder will guide an institution to select the version of the model form that fits its practices, such as whether the institution provides an opt-out for consumers.
To obtain a legal “safe harbor” and to satisfy GLBA disclosure requirements, institutions must follow the instructions in the model form regulation when using the Online Form Builder.
The model privacy form was developed jointly by the Board of Governors of the Federal Reserve System, Commodity Futures Trading Commission, Federal Deposit Insurance Corporation, Federal Trade Commission, National Credit Union Administration, Office of the Comptroller of the Currency, Office of Thrift Supervision, and Securities and Exchange Commission.