Financial institutions are required to provide a notice of their policies and practices to all their not later than . In addition, if a financial institution plans to share personal information about with third parties, it must also provide a notice to .

If an institution plans to share information outside the exceptions, it must provide a right to out. If such a right must be given, it must be clearly explained in the notice and a means must be given to exercise it. One of the exceptions allows a financial institution to share information as necessary to , , or a transaction initiated by the individual.

Institutions must also provide an initial notice at the time of a customer relationship as well as thereafter on an basis.

If a customer expresses his wish that the institution not share his information outside the exception, that directive from the customer will remain in force until it is in writing.

In a joint customer situation, the privacy notice can be given to joint owner. If an existing customer subsequently obtains a new financial product or service, you need to provide a new privacy notice.