What are some reasonable means of allowing consumers an opportunity to opt out?
A. You may provide various opt out methods that are reasonable, depending on the circumstances surrounding the financial product or service. For example, for new customers who open credit card accounts, you may deliver a form with a check-off box that they can check and return to you. If you use this method, you must deliver the check-off form with your opt out notice. You also may provide a toll-free telephone number that consumers can call to opt out. 313.7(a)(2)(ii), 313.10(a)(3)(i). The Privacy Rule provides that you may require a consumer to opt out through a specific means if that means is reasonable for that particular consumer. 313.7(a)(2)(iv). For example, you may require a consumer who has agreed to the electronic delivery of notices to opt out by using a process available on your web site if that consumer uses your web site to access financial products or services. You also may require a consumer who conducts an isolated transaction at your branch, ATM, or office in person t
Related Questions
- Residents are supposed to have reasonable access to a telephone so that they can call the Ombudsman. Doesn’t the facility get to decide what reasonable means?
- What are some reasonable means of allowing consumers an opportunity to opt out?
- When can consumers begin to use their opt-out rights for credit card changes?
