On December 1, 2009, the federal banking agencies and the CFTC, FTC, NCUA and SEC issued a final rule amending their privacy rules under Title V of the Gramm- Leach-Bliley Act (“GLBA”). It provides a model privacy form that financial institutions may use to describe their privacy policies, and to give consumers the opportunity to opt out of information sharing with non-affiliated third parties. The model form also addresses relevant opt outs under the Fair Credit Reporting Act (“FCRA”) relating to the information sharing with affiliates. The model form, which was under development for several years, is similar to the form proposed in 2007 by these agencies. The final rule provides numerous detailed requirements for how the model form must be presented and what information must be included. While use of the model form is not required, a financial institution that uses the form (as instructed in the final rule) will be deemed compliant with the GLBA notice content requirements for privacy policies and opt-out notices.