(a) Renewal notice and opt-out
requirement. (1) In general. After the
opt-out period expires, you may not
make solicitations based on eligibility
information you receive from an affiliate
to a consumer who previously opted
out, unless:
(i) The consumer has been given a
renewal notice that complies with the
requirements of this section and
§§ 222.24 through 222.26 of this part,
and a reasonable opportunity and a
reasonable and simple method to renew
the opt-out, and the consumer does not
renew the opt-out; or
(ii) An exception in § 222.21(c) of this
part applies.
(2) Renewal period. Each opt-out
renewal must be effective for a period of
at least five years as provided in
§ 222.22(b) of this part.
(3) Affiliates who may provide the
notice. The notice required by this
paragraph must be provided:
(i) By the affiliate that provided the
previous opt-out notice, or its successor;
or
(ii) As part of a joint renewal notice
from two or more members of an
affiliated group of companies, or their
successors, that jointly provided the
previous opt-out notice.
(b) Contents of renewal notice. The
renewal notice must be clear,
conspicuous, and concise, and must
accurately disclose:
(1) 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’’;
(2) 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’’;
(3) A general description of the types
of eligibility information that may be
used to make solicitations to the
consumer;
(4) That the consumer previously
elected to limit the use of certain
information to make solicitations to the
consumer;
(5) That the consumer’s election has
expired or is about to expire;
(6) That the consumer may elect to
renew the consumer’s previous election;
(7) If applicable, that the consumer’s
election to renew will apply for the
specified period of time stated in the
notice and that the consumer will be
allowed to renew the election once that
period expires; and
(8) A reasonable and simple method
for the consumer to opt out.
(c) Timing of the renewal notice. (1)
In general. A renewal notice may be
provided to the consumer either—
(i) A reasonable period of time before
the expiration of the opt-out period; or
(ii) Any time after the expiration of
the opt-out period but before
solicitations that would have been
prohibited by the expired opt-out are
made to the consumer.
(2) Combination with annual privacy
notice. If you provide an annual privacy
notice under the Gramm-Leach-Bliley
Act, 15 U.S.C. 6801 et seq., providing a
renewal notice with the last annual
privacy notice provided to the consumer
before expiration of the opt-out period
is a reasonable period of time before
expiration of the opt-out in all cases.
(d) No effect on opt-out period. An
opt-out period may not be shortened by
sending a renewal notice to the
consumer before expiration of the optout
period, even if the consumer does
not renew the opt out.
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