Credit unions can develop customized versions of a model consumer privacy notice by using the Online Form Builder released today by the Federal Reserve, in conjunction with the NCUA and other regulatory agencies.
The forms are part of the process for complying with the requirements of a federal law to give consumers options about what information the financial institution can release to outside organizations.
To obtain a legal "safe harbor" and satisfy the law's disclosure requirements, institutions must follow the instructions, according to the Federal Reserve.
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