Sec. 222.23 Contents of opt-out notice;
consolidated and equivalent notices.
(a) Contents of opt-out notice. (1) In
general. A notice must be clear,
conspicuous, and concise, and must
accurately disclose:
(i) The name of the affiliate(s)
providing the notice. If the notice is
provided jointly by multiple affiliates
and each affiliate shares a common
name, such as ‘‘ABC,’’ then the notice
may indicate that it is being provided by
multiple companies with the ABC name
or multiple companies in the ABC group
or family of companies, for example, by
stating that the notice is provided by
‘‘all of the ABC companies,’’ ‘‘the ABC
banking, credit card, insurance, and
securities companies,’’ or by listing the
name of each affiliate providing the
notice. But if the affiliates providing the
joint notice do not all share a common
name, then the notice must either
separately identify each affiliate by
name or identify each of the common
names used by those affiliates, for
example, by stating that the notice is
provided by ‘‘all of the ABC and XYZ
companies’’ or by ‘‘the ABC banking
and credit card companies and the XYZ
insurance companies’’;
(ii) A list of the affiliates or types of
affiliates whose use of eligibility
information is covered by the notice,
which may include companies that
become affiliates after the notice is
provided to the consumer. If each
affiliate covered by the notice shares a
common name, such as ‘‘ABC,’’ then the
notice may indicate that it applies to
multiple companies with the ABC name
or multiple companies in the ABC group
or family of companies, for example, by
stating that the notice is provided by
‘‘all of the ABC companies,’’ ‘‘the ABC
banking, credit card, insurance, and
securities companies,’’ or by listing the
name of each affiliate providing the
notice. But if the affiliates covered by
the notice do not all share a common
name, then the notice must either
separately identify each covered affiliate
by name or identify each of the common
names used by those affiliates, for
example, by stating that the notice
applies to ‘‘all of the ABC and XYZ
companies’’ or to ‘‘the ABC banking and
credit card companies and the XYZ
insurance companies’’;
(iii) A general description of the types
of eligibility information that may be
used to make solicitations to the
consumer;
(iv) That the consumer may elect to
limit the use of eligibility information to
make solicitations to the consumer;
(v) That the consumer’s election will
apply for the specified period of time
stated in the notice and, if applicable,
that the consumer will be allowed to
renew the election once that period
expires;
(vi) If the notice is provided to
consumers who may have previously
opted out, such as if a notice is provided
to consumers annually, that the
consumer who has chosen to limit
solicitations does not need to act again
until the consumer receives a renewal
notice; and
(vii) A reasonable and simple method
for the consumer to opt out.
(2) Joint relationships. (i) If two or
more consumers jointly obtain a product
or service, a single opt-out notice may
be provided to the joint consumers. Any
of the joint consumers may exercise the
right to opt out.
(ii) The opt-out notice must explain
how an opt-out direction by a joint
consumer will be treated. An opt-out
direction by a joint consumer may be
treated as applying to all of the
associated joint consumers, or each joint
consumer may be permitted to opt out
separately. If each joint consumer is
permitted to opt out separately, one of
the joint consumers must be permitted
to opt out on behalf of all of the joint
consumers and the joint consumers
must be permitted to exercise their
separate rights to opt out in a single
response.
(iii) It is impermissible to require all
joint consumers to opt out before
implementing any opt-out direction.
(3) Alternative contents. If the
consumer is afforded a broader right to
opt out of receiving marketing than is
required by this subpart, the
requirements of this section may be
satisfied by providing the consumer
with a clear, conspicuous, and concise
notice that accurately discloses the
consumer’s opt-out rights.
(4) Model notices. Model notices are
provided in Appendix C of this part.
(b) Coordinated and consolidated
notices. A notice required by this
subpart may be coordinated and
consolidated with any other notice or
disclosure required to be issued under
any other provision of law by the entity
providing the notice, including but not
limited to the notice described in
section 603(d)(2)(A)(iii) of the Act and
the Gramm-Leach-Bliley Act privacy
notice.
(c) Equivalent notices. A notice or
other disclosure that is equivalent to the
notice required by this subpart, and that
is provided to a consumer together with
disclosures required by any other
provision of law, satisfies the
requirements of this section.
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