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Wednesday
March 17, 2010
12:00 pm - 1:30 pm Pacific
1:00 pm - 2:30 pm Mountain
2:00 pm - 3:30 pm Central
3:00 pm - 4:30 pm Eastern
Meet the Presenter
Elizabeth Fast, JD & CPA
Spencer Fane Britt & Browne LLP
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Credit unions have traditionally safe-guarded their members’ financial information. Now under Gramm-Leach-Bliley Act (GLBA), credit unions must provide periodic notices to members regarding the credit union’s information sharing practices and must inform members of their right to opt-out. Recently, the NCUA and other federal agencies released a new model privacy notice form that is designed to make it easier for consumers to understand how financial institutions collect and share personal information.
Credit unions that provide this model privacy notice form to their members will be in compliance with GLBA. However, the previous safe harbor provisions under GLBA will be eliminated on January 1, 2011. Therefore, to obtain a compliance safe harbor after January 1, 2011, your credit union must use the new model privacy notice form. This webinar will review the new model privacy notice form, explain how the new form should be used, and cover all the financial privacy duties a credit union owes to its members.
HIGHLIGHTS
- Background on financial privacy rules
- Difference between GLBA and the Federal Right to Privacy Act
- Detailed review of new model privacy notice form
- Exceptions to the member’s right to opt-out
- Limitations on sharing of member information
- Privacy concerns with third-party vendors
WHO SHOULD ATTEND?
This informative session is designed for deposit operations personnel, loan operations staff, retail officers, commercial officers, attorneys, compliance officers, and managers.
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