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Fair Credit Reporting: 12 C.F.R. § 1016.5 Annual privacy notice to customers required.

(a)(1) General rule. Except as provided by paragraph (e) of this section, you must provide a clear and conspicuous notice to customers that accurately reflects your privacy policies and practices not less than annually during the continuation of the customer relationship. Annually means at least once in any period of 12 consecutive months during which that relationship exists. You may define the 12–consecutive-month period, but you must apply it to the customer on a consistent basis.

Fair Credit Reporting: 12 C.F.R. § 1016.6 Information to be included in privacy notices.

(a) General rule. The initial, annual, and revised privacy notices that you provide under §§ 1016.4, 1016.5, and 1016.8 of this part must include each of the following items of information, in addition to any other information you wish to provide, that applies to you and to the consumers to whom you send your privacy notice:

(1) The categories of nonpublic personal information that you collect;

(2) The categories of nonpublic personal information that you disclose;

Fair Credit Reporting: 12 C.F.R. § 1016.7 Form of opt out notice to consumers; opt out methods.

(a)(1) Form of opt out notice. If you are required to provide an opt out notice under § 1016.10(a), you must provide a clear and conspicuous notice to each of your consumers that accurately explains the right to opt out under that section. The notice must state:

(i) That you disclose or reserve the right to disclose nonpublic personal information about your consumer to a nonaffiliated third party;

(ii) That the consumer has the right to opt out of that disclosure; and

Fair Credit Reporting: 12 C.F.R. § 1016.8 Revised privacy notices.

(a) General rule. Except as otherwise authorized in this part, you must not, directly or through any affiliate, disclose any nonpublic personal information about a consumer to a nonaffiliated third party other than as described in the initial notice that you provided to that consumer under § 1016.4 of this part, unless:

(1) You have provided to the consumer a clear and conspicuous revised notice that accurately describes your policies and practices;

Fair Credit Reporting: 12 C.F.R. § 1016.9 Delivering privacy and opt out notices.

(a) How to provide notices. You must provide any privacy notices and opt out notices, including short-form initial notices, that this part requires so that each consumer can reasonably be expected to receive actual notice in writing or, if the consumer agrees, electronically.

(b)(1) Examples of reasonable expectation of actual notice. You may reasonably expect that a consumer will receive actual notice if you:

(i) Hand-deliver a printed copy of the notice to the consumer;

Fair Credit Reporting: 12 C.F.R. § 1016.10 Limits on disclosure of nonpublic personal information to nonaffiliated third parties.

(a)(1) Conditions for disclosure. Except as otherwise authorized in this part, you may not, directly or through any affiliate, disclose any nonpublic personal information about a consumer to a nonaffiliated third party unless:

(i) You have provided to the consumer an initial notice as required under § 1016.4 of this part;

(ii) You have provided to the consumer an opt out notice as required in § 1016.7 of this part;

Fair Credit Reporting: 12 C.F.R. § 1016.11 Limits on redisclosure and reuse of information.

(a)(1) Information you receive under an exception. If you receive nonpublic personal information from a nonaffiliated financial institution under an exception in § 1016.14 or § 1016.15 of this part, your disclosure and use of that information is limited as follows:

(i) You may disclose the information to the affiliates of the financial institution from which you received the information;

Fair Credit Reporting: 12 C.F.R. § 1016.12 Limits on sharing account number information for marketing purposes.

(a) General prohibition on disclosure of account numbers. You must not, directly or through an affiliate, disclose, other than to a consumer reporting agency, an account number or similar form of access number or access code for a consumer’s credit card account, deposit account, share account, or transaction account to any nonaffiliated third party for use in telemarketing, direct mail marketing, or other marketing through electronic mail to the consumer.

Fair Credit Reporting: 12 C.F.R. § 1016.14 Exceptions to notice and opt out requirements for processing and servicing transactions.

(a) Exceptions for processing transactions at consumer’s request. The requirements for initial notice in § 1016.4(a)(2), for the opt out in §§ 1016.7 and 1016.10, and for service providers and joint marketing in § 1016.13 do not apply if you disclose nonpublic personal information as necessary to effect, administer, or enforce a transaction that a consumer requests or authorizes, or in connection with:

(1) Servicing or processing a financial product or service that a consumer requests or authorizes;

Fair Credit Reporting: 12 C.F.R. § 1016.15 Other exceptions to notice and opt out requirements.

(a) Exceptions to opt out requirements. The requirements for initial notice in § 1016.4(a)(2), for the opt out in §§ 1016.7 and 1016.10, and for service providers and joint marketing in § 1016.13 do not apply when you disclose nonpublic personal information:

(1) With the consent or at the direction of the consumer, provided that the consumer has not revoked the consent or direction;

Fair Credit Reporting: 12 C.F.R. § 1016.16 Protection of Fair Credit Reporting Act.

Nothing in this part shall be construed to modify, limit, or supersede the operation of the Fair Credit Reporting Act (15 U.S.C. 1681 et seq.), and no inference shall be drawn on the basis of the provisions of this part regarding whether information is transaction or experience information under section 603 of that Act.

[76 Fed. Reg. 44,242 (July 22, 2011); 76 Fed. Reg. 79,028 (Dec. 21, 2011); 81 Fed. Reg. 25,325 (Apr. 28, 2016); 88 Fed. Reg. 16,537 (Mar. 20, 2023)]

Fair Credit Reporting: 12 C.F.R. § 1016.17 Relation to state laws.

(a) In general. This part shall not be construed as superseding, altering, or affecting any statute, regulation, order, or interpretation in effect in any state, except to the extent that such state statute, regulation, order, or interpretation is inconsistent with the provisions of this part, and then only to the extent of the inconsistency.

Consumer Bankruptcy Law and Practice: 8.1 Introduction

Once the decision to file a bankruptcy has been made and acted upon by commencement of the case, the remainder of many a routine bankruptcy case seems anticlimactic. Although numerous complications can occur, and significant steps must sometimes be taken on behalf of the debtor, quite often only a few formalities are left after the filing of the initial papers. This Chapter describes those events that occur in every case, and also how to handle some of the other proceedings that may arise during the pendency of the case.

Consumer Bankruptcy Law and Practice: 8.3.1 Notice of the Automatic Stay and Turnover Requirement

Although all creditors should receive a notice of the automatic stay as part of the notice of the meeting of creditors, that notice may not be sufficient to protect the debtor’s rights. It may not be mailed until weeks after the petition is filed; in the meantime, creditors without notice might take action harmful to the debtor. A creditor without notice of the case will normally not be found to have willfully violated a stay it knew nothing about.

Consumer Bankruptcy Law and Practice: 8.3.3 Personal Financial Management Course

To receive a discharge in a chapter 7 or chapter 13 case, the debtor must, with limited exceptions, submit proof of completion of an instructional course concerning financial management.43 The Bankruptcy Rules provide that the certification of course completion is to be submitted by the debtor using Official Form 423.44 However, the debtor need not file a certificate of completion of the course if the course provider has notified the court of the completion, as will occur in most cases.

Consumer Bankruptcy Law and Practice: 8.3.5 Annual Statements of Income and Expenditures in Chapter 13 Cases

A chapter 13 debtor may also be required to file annual statements of income and expenditures, but only if they are requested by the court, the United States trustee, or a party in interest.80 While some trustees make such requests as a matter of course, the language of section 521(f) suggests that requests are only appropriate if there is a particularized need for the information in a specific case.81 Otherwise, the statute would have simpl