Source: https://www.consumerfinance.gov/policy-compliance/rulemaking/regulations/1016/13/
Timestamp: 2020-08-09 10:53:17
Document Index: 489258226

Matched Legal Cases: ['§ 1016', '§ 1016', '§ 1016', '§ 1016', '§ 1016', '§ 1016', '§ 1016', '§ 1016', '§ 1016', '§ 1016', '§ 1016']

§ 1016.13 Exception to opt out requirements for service providers and joint marketing. | Consumer Financial Protection Bureau
(1) The opt out requirements in §§ 1016.7 and 1016.10 of this part do not apply when you provide nonpublic personal information to a nonaffiliated third party to perform services for you or functions on your behalf, if you:
(i) Provide the initial notice in accordance with § 1016.4; and
(ii) Enter into a contractual agreement with the third party that prohibits the third party from disclosing or using the information other than to carry out the purposes for which you disclosed the information, including use under an exception in § 1016.14 or § 1016.15 in the ordinary course of business to carry out those purposes.
(2) Example. If you disclose nonpublic personal information under this section to a financial institution with which you perform joint marketing, your contractual agreement with that institution meets the requirements of paragraph (a)(1)(ii) of this section if it prohibits the institution from disclosing or using the nonpublic personal information except as necessary to carry out the joint marketing or under an exception in § 1016.14 or § 1016.15 in the ordinary course of business to carry out that joint marketing.
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