Commodity Futures Trading Commission.
This document contains corrections to the final regulations which were published in the Federal Register of Friday, April 27, 2001 (66 FR 21236). The regulations related to notice requirements and restrictions on the ability of certain financial institutions to disclose nonpublic personal information about consumers to nonaffiliated third parties.
Effective on June 21, 2001.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Susan Nathan, 202-418-5120 (not a toll-free call).End Further Info End Preamble Start Supplemental Information
The final regulations that are the subject of this correction require certain financial institutions to provide their consumers with notice of their privacy policies and practices, and provide that the financial institutions may not disclose nonpublic personal information about a consumer to nonaffiliated third parties unless the institution provides certain information to the consumer and the consumer has not elected to opt out of the disclosure.
Need for Correction
As published, the final regulations contain an error which may prove to be misleading and needs to be clarified.Start List of Subjects Start Printed Page 24061
List of Subjects in 17 CFR Part 160
- Consumer protection
- Reporting and recordkeeping requirements
Accordingly, 17 CFR Part 160 is corrected by making the following correcting amendment:End Amendment Part Start Part
PART 160—PRIVACY OF CONSUMER FINANCIAL INFORMATIONEnd Part Start Amendment Part
1. The authority citation for part 160 continues to read as follows:End Amendment Part Start Amendment Part
2. Revise paragraph (b)(1) of § 160.18 to read as follows:End Amendment Part
(b)(1) Notice requirement for consumers who are your customers on the effective date. By March 31, 2002, you must have provided an initial notice, as required by § 160.4, to consumers who are your customers on March 31, 2002.
Dated: May 7, 2001.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 01-11861 Filed 5-10-01; 8:45 am]
BILLING CODE 6351-01-M