By far this is the weakest section of the bill. However, while the institution is not required under this legislation to get the consent of its customers beforehand, it is required to give notice that such a disclosure took place and ensure the customers that their information will remain confidential. The same practice of sharing personal information also applies to disclosures critical to the facilitation of customer service such as consolidated customer call centers and the use of consolidated customer account statements. Again, institutions are required to keep that information strictly confidential, under penalty of law. This analysis focuses on the critical provisions of the legislation and their relationship to the financial privacy of American citizens and consumers.
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