New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter XIX - Privacy Of Consumer Financial and health Information › Part 420 - Privacy Of Consumer Financial And Health Information › Exceptions to Limits on Disclosure of Financial Information › Section 420.15 - Other exceptions to notice and opt out requirements for disclosure of nonpublic personal financial information

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Exceptions to opt out requirements. The
				  requirements for initial notice to consumers in section
				  420.4(a)(2) 
				  of this Part, and the opt out provisions in sections
				  420.7
				  and
				  420.10 
				  of this Part and their application to service providers and joint marketing in
				  as described in section
				  420.13 
				  of this Part, do not apply when a licensee discloses nonpublic personal
				  financial information:
(1) with the consent
				  or at the direction of the consumer, provided that the consumer has not revoked
				  the consent or direction (see subdivision [b] of this section);
(2)
(i) to
				  protect the confidentiality or security of a licensee's records pertaining to
				  the consumer, service, product or transaction;
(ii) to protect against or prevent actual or
				  potential fraud or unauthorized transactions, claims, or other
				  liabilities;
(iii) for required
				  institutional risk control or for resolving consumer disputes or
				  inquiries;
(iv) to persons holding
				  a legal or beneficial interest relating to the consumer; or
(v) to persons acting in a fiduciary or
				  representative capacity on behalf of the consumer;
(3) to provide information to insurance rate
				  advisory organizations, guaranty funds or agencies, agencies that are rating a
				  licensee, persons that are assessing the licensee's compliance with industry
				  standards, and the licensee's attorneys, accountants, and auditors;
(4) to the extent specifically permitted or
				  required under other provisions of law and in accordance with the Federal Right
				  to Financial Privacy Act of 1978 (12
				  U.S.C. 3401 et seq.), to law enforcement
				  agencies (including the Federal Reserve Board, Office of the Comptroller of the
				  Currency, Federal Deposit Insurance Corporation, Office of Thrift Supervision,
				  National Credit Union Administration, the Securities and Exchange Commission,
				  the Secretary of the Treasury, with respect to 31 U.S.C. chapter 53, subchapter
				  II [records and reports on monetary instruments and transactions] and 12 U.S.C.
				  chapter 21 [financial recordkeeping], a State insurance or banking authority
				  and the Federal Trade Commission), self-regulatory organizations, or for an
				  investigation on a matter related to public safety;
(5)
(i) to
				  a consumer reporting agency in accordance with the Federal Fair Credit
				  Reporting Act (15 U.S.C.
				  1681 et seq.) and the New York Fair Credit
				  Reporting Act (General Business Law, article 25); or
(ii) from a consumer report reported by a
				  consumer reporting agency;
(6) in connection with a proposed or actual
				  sale, merger, transfer or exchange of all or a portion of a business or
				  operating unit if the disclosure of nonpublic personal financial information
				  concerns solely consumers of such business or unit;
(7)
(i) to
				  comply with Federal, State, or local laws, rules and other applicable legal
				  requirements;
(ii) to comply with a
				  properly authorized civil, criminal or regulatory investigation, or subpoena or
				  summons by Federal, State or local authorities; or
(iii) to respond to judicial process or
				  government regulatory authorities having jurisdiction over a licensee for
				  examination, compliance or other purposes as authorized by law; or
(8) for purposes related to the
				  replacement of a group benefit plan, a group health plan, a group welfare plan
				  or a workers' compensation plan.