Source: http://www.law.cornell.edu/cfr/text/16/313.7
Timestamp: 2014-12-18 10:04:19
Document Index: 101014075

Matched Legal Cases: ['art 313', '§ 313', '§ 313', '§ 313', '§ 313', '§ 313']

16 CFR 313.7 - Form of opt out notice to consumers; opt out methods. | LII / Legal Information Institute
CFR › Title 16 › Chapter I › Subchapter C › Part 313 › Subpart A › Section 313.7 16 CFR 313.7 - Form of opt out notice to consumers; opt out methods.
Form of opt out notice.
If you are required to provide an opt out notice under § 313.10(a), you must provide a clear and conspicuous notice to each of your consumers that accurately explains the right to opt out under that section. The notice must state:
Adequate opt out notice.
Identify all of the categories of nonpublic personal information that you disclose or reserve the right to disclose, and all of the categories of nonaffiliated third parties to which you disclose the information, as described in § 313.6(a) (2) and (3) and state that the consumer can opt out of the disclosure of that information; and
Include a reply form that includes the address to which the form should be mailed; or
You may provide the opt out notice together with or on the same written or electronic form as the initial notice you provide in accordance with § 313.4.
Initial notice required when opt out notice delivered subsequent to initial notice.
If you provide the opt out notice later than required for the initial notice in accordance with § 313.4, you must also include a copy of the initial notice with the opt out notice in writing or, if the consumer agrees, electronically.
If two or more consumers jointly obtain a financial product or service from you, you may provide a single opt out notice, unless one or more of those consumers requests a separate opt out notice. Your opt out notice must explain how you will treat an opt out direction by a joint consumer (as explained in paragraph (d)(5)(ii)of this section).
If John and Mary have a joint credit card account with you and arrange for you to send statements to John's address, you may do any of the following, but you must explain in your opt out notice which opt out policy you will follow:
Permit John and Mary to make different opt out directions. If you do so,
Continuing right to opt out.
Duration of consumer's opt out direction.
A consumer's direction to opt out under this section is effective until the consumer revokes it in writing or, if the consumer agrees, electronically.
When you are required to deliver an opt out notice by this section, you must deliver it according to § 313.9.