Utah Admin. Code R590-206-7 - Information to be Included in a Privacy Notice

(1) An initial, annual, or revised privacy notice that a licensee provides under Section R590-206-5, R590-206-6, or R590-206-9 shall include the following:

(a) the categories of nonpublic personal financial information that the licensee collects;

(b) the categories of nonpublic personal financial information that the licensee discloses:

(c) the categories of affiliates and nonaffiliated third parties to whom the licensee discloses nonpublic personal financial information, other than those parties to whom the licensee discloses information under Section R590-206-16 or R590-206-17;

(d) the categories of nonpublic personal financial information about former customers that the licensee discloses and the categories of affiliates and nonaffiliated third parties to whom the licensee discloses nonpublic personal financial information about former customers, other than those parties to whom the licensee discloses information under Section R590-206-16 or R590-206-17;

(e) if a licensee discloses nonpublic personal financial information to a nonaffiliated third party under Section R590-206-14, and no other exception in Section R590-206-16 or R590-206-17 applies to that disclosure, a separate description of the categories of information the licensee discloses and the categories of third parties with whom the licensee has a contract;

(f) an explanation of the consumer's right under Subsection R590-206-12(1) to opt out of the disclosure of nonpublic personal financial information to nonaffiliated third parties, including the methods the consumer may exercise at that time;

(g) a disclosure that the licensee makes under Section 603(d)(2)(A)(iii) of the Fair Credit Reporting Act, 15 U.S.C. 1681a(d)(2)(A)(iii);

(h) the licensee's policies and practices regarding protecting the confidentiality and security of nonpublic personal information;

(i) any disclosure that the licensee makes under Subsection (2); and

(j) any other information the licensee chooses to provide that applies to the licensee and to the consumer to whom the licensee sends its privacy notice.

(2)

(a) If a licensee discloses nonpublic personal financial information under Section R590-206-16 or R590-206-17, the licensee is not required to list those exceptions in the initial or annual privacy notices required by Sections R590-206-5 and R590-206-6.

(b) When describing the categories of parties to whom disclosure is made, a licensee shall state that it makes disclosures to other affiliated or nonaffiliated third parties, as permitted by law.

(c) A licensee shall categorize the nonpublic personal financial information it collects according to the source of the information, as follows:

(i) information from the consumer;

(ii) information about the consumer's transactions with the licensee or its affiliates;

(iii) information about the consumer's transactions with a nonaffiliated third party; and

(iv) information from a consumer reporting agency.

(d)

(i) A licensee shall categorize nonpublic personal financial information it discloses according to the source of the information, as described in Subsection (2)(c), and provide examples to illustrate the types of information in each category, including:

(A) information from the consumer, including application information, such as assets and income, and identifying information, such as name, address, and social security number;

(B) transaction information, such as information about balances, payment history, and parties to the transaction; and

(C) information from consumer reports, such as a consumer's creditworthiness and credit history.

(ii) The information that a licensee discloses is not adequately categorized if the licensee uses only general terms, such as transaction information about the consumer.

(iii) If a licensee reserves the right to disclose any nonpublic personal financial information about a consumer that it collects, the licensee may state that fact without describing the categories or examples of nonpublic personal financial information.

(e)

(i) A licensee shall categorize the affiliates and nonaffiliated third parties to which the licensee discloses nonpublic personal financial information about consumers if the licensee identifies the types of businesses in which they engage.

(ii) Types of businesses may be described in general terms only if a licensee uses illustrative examples of significant lines of business.

(iii) A licensee may use more detailed categories to categorize the affiliates and nonaffiliated third parties to which it discloses nonpublic personal financial information about consumers.

(f) If a licensee discloses nonpublic personal financial information under the exception in Section R590-206-14 to a nonaffiliated third party to market products or services that it offers alone or jointly with another financial institution, the licensee shall:

(i) list the categories of nonpublic personal financial information it discloses, using the same categories and examples the licensee used under Subsection (1)(b); and

(ii) state whether the third party is:

(A) a service provider that performs marketing services on the licensee's behalf or on behalf of the licensee and another financial institution; or

(B) a financial institution with whom the licensee has a joint marketing agreement.

(g) If a licensee does not disclose, and does not reserve the right to disclose, nonpublic personal financial information about customers or former customers to affiliates or nonaffiliated third parties except as authorized under Section R590-206-16 or R590-206-17, the licensee may state that fact, in addition to the information under Subsections (1)(a), (1)(h), (1)(i), and (2).

(h)

(i) A licensee shall describe its policies and practices regarding protecting the confidentiality and security of nonpublic personal financial information as follows:

(A) describe, in general terms, who is authorized to have access to the information; and

(B) state whether the licensee has security practices and procedures in place to ensure the confidentiality of the information in accordance with the licensee's policy.

(ii) A licensee is not required to describe technical information about the safeguards it uses.

(3)

(a) A licensee satisfies the initial notice requirements in Subsections R590-206-5(1)(b) and R590-206-8(3) for a consumer who is not a customer by providing a short-form initial notice at the time the licensee delivers an opt out notice under Section R590-206-8.

(b) A short-form notice shall:

(i) be clear and conspicuous;

(ii) state that the licensee's privacy notice is available upon request; and

(iii) explain where the consumer may obtain the notice.

(c)

(i) A licensee shall deliver its short-form initial notice according to Section R590-206-11.

(ii) A licensee is not required to deliver its privacy notice with its short-form initial notice.

(iii) A licensee may provide the consumer a reasonable means to obtain its privacy notice.

(iv) If a consumer requests the privacy notice, the licensee shall deliver it according to Section R590-206-10.

(4) A licensee's notice may include:

(a) categories of nonpublic personal financial information that a licensee reserves the right to disclose in the future, but does not currently disclose; and

(b) categories of affiliates or nonaffiliated third parties to whom a licensee reserves the right, in the future, to disclose, but to whom the licensee does not currently disclose, nonpublic personal financial information.

(5) Sample clauses illustrating notice content required by this section are included in Appendix A and Appendix B.

Notes

Utah Admin. Code R590-206-7

Amended by Utah State Bulletin Number 2017-15, effective 7/11/2017 Adopted by Utah State Bulletin Number 2023-23, effective 11/21/2023