My company receives information from banks and securities firms that are subject to separate federal privacy regulations. What rules do we follow with respect to this information?
When you receive information from another financial institution, such as a bank or securities firm, that information may be subject to the regulations that govern the institution. The Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Trade Commission are just three of the several federal government agencies that have promulgated privacy regulations for financial institutions under the GLBA. All of the federal regulations contain provisions restricting the reuse and redisclosure of protected information by parties that receive information from a financial institution. These provisions are identical in all material respects to the reuse and redisclosure provisions in the Department’s financial privacy regulation. Generally, the provisions permit you to disclose protected financial information received from another financial institution only to the extent the original financial institution could disclose the information. For more information, you should
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