12 CFR 573.13 - Exception to opt out requirements for service providers and joint marketing.
(1) The opt out requirements in §§ 573.7 and 573.10 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 § 573.4; 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 § 573.14 or 573.15 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 § 573.14 or 573.15 in the ordinary course of business to carry out that joint marketing.
(b)Service may include joint marketing. The services a nonaffiliated third party performs for you under paragraph (a) of this section may include marketing of your own products or services or marketing of financial products or services offered pursuant to joint agreements between you and one or more financial institutions.
(c)Definition of joint agreement. For purposes of this section, joint agreement means a written contract pursuant to which you and one or more financial institutions jointly offer, endorse, or sponsor a financial product or service.
- 12 CFR 573.8 — Revised Privacy Notices.
- 12 CFR 573.14 — Exceptions to Notice and Opt Out Requirements for Processing and Servicing Transactions.
- 12 CFR 573.1 — Purpose and Scope.
- 12 CFR 573.18 — Effective Date; Transition Rule.
- 12 CFR 573.15 — Other Exceptions to Notice and Opt Out Requirements.
- 12 CFR 573.6 — Information to Be Included in Privacy Notices.
- 12 CFR 573.10 — Limits on Disclosure of Non-Public Personal Information to Nonaffiliated Third Parties.