Louisiana Administrative Code
Title 37 - INSURANCE Part
Part XIII - Regulations
Chapter 99 - Regulation 76-Privacy of Consumer
Subchapter B - Privacy and Opt-Out Notices for Financial Information
Section XIII-9915 - Information to be Included in Privacy Notices
Universal Citation: LA Admin Code XIII-9915
Current through Register Vol. 50, No. 9, September 20, 2024
A. General Rule. The initial, annual and revised privacy notices that a licensee provides under §9911 shall include each of the following items of information, in addition to any other information the licensee wishes to provide, that applies to the licensee and to the consumers to whom the licensee sends its privacy notice:
1. the categories of nonpublic personal
financial information that the licensee collects;
2. the categories of nonpublic personal
financial information that the licensee discloses;
3. 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
§9931 and 9933;
4. the categories of nonpublic personal
financial information about the licensee's 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 the
licensee's former customers, other than those parties to whom the licensee
discloses information under
§9931 and 9933;
5. if a licensee discloses nonpublic personal
financial information to a nonaffiliated third party under
§9929 (and no other exception in
§9931 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
contracted;
6. an explanation of
the consumer's right under
§9923 to opt out of the disclosure of
nonpublic personal financial information to nonaffiliated third parties,
including the methods by which the consumer may exercise that right at that
time;
7. any disclosures that the
licensee makes under Section 603(d)(2)(A)(iii) of the federal Fair Credit
Reporting Act (15 U.S.C.
1681 a(d)(2)(A)(iii)) (that is, notices
regarding the ability to opt out of disclosures of information among
affiliates);
8. the licensee's
policies and practices with respect to protecting the confidentiality and
security of nonpublic personal information; and
9. any disclosure that the licensee makes
under Subsection B of this Section.
B. Description of Parties Subject to Exceptions. If a licensee discloses nonpublic personal financial information as authorized under §9931 and 9933, the licensee is not required to list those exceptions in the initial or annual privacy notices required by §9911 When describing the categories of parties to whom disclosure is made, the licensee is required to state only that it makes disclosures to other affiliated or nonaffiliated third parties, as applicable, as permitted by law.
C. Examples
1. Categories of nonpublic personal
financial information that the licensee collects. A licensee satisfies the
requirement to categorize the nonpublic personal financial information it
collects if the licensee categorizes it according to the source of the
information, as applicable:
a. information
from the consumer;
b. information
about the consumer's transactions with the licensee or its
affiliates;
c. information about
the consumer's transactions with nonaffiliated third parties; and
d. information from a consumer reporting
agency.
2. Categories of
Nonpublic Personal Financial Information a Licensee Discloses
a. A licensee satisfies the requirement to
categorize nonpublic personal financial information it discloses if the
licensee categorizes the information according to source, as described in
Subsection C.1 of this Section, as applicable, and provides a few examples to
illustrate the types of information in each category. These might include:
i. information from the consumer, including
application information, such as assets and income and identifying information,
such as name, address and Social Security number;
ii. transaction information, such as
information about balances, payment history and parties to the transaction;
and
iii. information from consumer
reports, such as a consumer's creditworthiness and credit history.
b. A licensee does not adequately
categorize the information that it discloses if the licensee uses only general
terms, such as transaction information about the consumer.
c. If a licensee reserves the right to
disclose all of the nonpublic personal financial information about consumers
that it collects, the licensee may simply state that fact without describing
the categories or examples of nonpublic personal information that the licensee
discloses.
3. Categories
of Affiliates and Nonaffiliated Third Parties to whom the Licensee Discloses
a. A licensee satisfies the requirement to
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.
b. Types of businesses may be described by
general terms only if the licensee uses a few illustrative examples of
significant lines of business. For example, a licensee may use the term
financial products or services if it includes appropriate examples of
significant lines of businesses, such as life insurer, automobile insurer,
consumer banking or securities brokerage.
c. A licensee also may categorize the
affiliates and nonaffiliated third parties to which it discloses nonpublic
personal financial information about consumers using more detailed
categories.
4.
Disclosures under Exception for Service Providers and Joint Marketers. If a
licensee discloses nonpublic personal financial information under the exception
in §9929 to a
nonaffiliated third party to market products or services that it offers alone
or jointly with another financial institution, the licensee satisfies the
disclosure requirement of Paragraph A.5 of this Section if it:
a. lists the categories of nonpublic personal
financial information it discloses, using the same categories and examples the
licensee used to meet the requirements of Paragraph A2. of this Section, as
applicable; and
b. states whether
the third party is:
i. a service provider that
performs marketing services on the licensee's behalf or on behalf of the
licensee and another financial institution; or
ii. a financial institution with whom the
licensee has a joint marketing agreement.
5. Simplified Notices. If a licensee does not
disclose, and does not wish to reserve the right to disclose, nonpublic
personal financial information about customers or former customers to
affiliates or nonaffiliated third parties except as authorized under
§9931 and 9933, the licensee may simply
state that fact, in addition to the information it shall provide under
Paragraphs A.1, A.8, A.9, and Subsection B of this Section.
6. Confidentiality and Security. A licensee
describes its policies and practices with respect to protecting the
confidentiality and security of nonpublic personal financial information if it
does both of the following:
a. describes in
general terms who is authorized to have access to the information;
and
b. states whether the licensee
has security practices and procedures in place to ensure the confidentiality of
the information in accordance with the licensee's policy. The licensee is not
required to describe technical information about the safeguards it
uses.
D. Short-Form Initial Notice with Opt Out Notice for Non-Customers
1. A licensee may satisfy the initial notice
requirements in
§9911. A.2 for a
consumer who is not a customer by providing a short-form initial notice at the
same time as the licensee delivers an opt out notice as required in
§9917
2. A short-form initial notice shall:
a. be clear and conspicuous;
b. state that the licensee's privacy notice
is available upon request; and
c.
explain a reasonable means by which the consumer may obtain that
notice.
3. The licensee
shall deliver its short-form initial notice according to
§9921 The licensee is not required to
deliver its privacy notice with its short-form initial notice. The licensee
instead may simply provide the consumer a reasonable means to obtain its
privacy notice. If a consumer who receives the licensee's short-form notice
requests the licensee's privacy notice, the licensee shall deliver its privacy
notice according to
§9921
4. Examples of Obtaining Privacy Notice. The
licensee provides a reasonable means by which a consumer may obtain a copy of
its privacy notice if the licensee:
a.
provides a toll-free telephone number that the consumer may call to request the
notice; or
b. for a consumer who
conducts business in person at the licensee's office, maintains copies of the
notice on hand that the licensee provides to the consumer immediately upon
request.
E. Future Disclosures. The licensee's notice may include:
1. categories of nonpublic personal financial
information that the licensee reserves the right to disclose in the future, but
does not currently disclose; and
2.
categories of affiliates or nonaffiliated third parties to whom the licensee
reserves the right in the future to disclose, but to whom the licensee does not
currently disclose, nonpublic personal financial information.
F. Sample Clauses. Sample clauses illustrating some of the notice content required by this Section are included in Appendix A of this regulation.
AUTHORITY NOTE: Promulgated in accordance with R.S. 22:2, 22:3, 22:3052, 22:3054 and Gramm-Leach-Bliley Act, Public Law 106-102 Nov. 12, 1999.
Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
