15 USC 6808 - Study of information sharing among financial affiliates

U.S Code last checked for updates: May 05, 2024

§ 6808.

Study of information sharing among financial affiliates

(a)

In general

The Secretary of the Treasury, in conjunction with the Federal functional regulators and the Federal Trade Commission, shall conduct a study of information sharing practices among financial institutions and their affiliates. Such study shall include—

(1)

the purposes for the sharing of confidential customer information with affiliates or with nonaffiliated third parties;

(2)

the extent and adequacy of security protections for such information;

(3)

the potential risks for customer privacy of such sharing of information;

(4)

the potential benefits for financial institutions and affiliates of such sharing of information;

(5)

the potential benefits for customers of such sharing of information;

(6)

the adequacy of existing laws to protect customer privacy;

(7)

the adequacy of financial institution privacy policy and privacy rights disclosure under existing law;

(8)

the feasibility of different approaches, including opt-out and opt-in, to permit customers to direct that confidential information not be shared with affiliates and nonaffiliated third parties; and

(9)

the feasibility of restricting sharing of information for specific uses or of permitting customers to direct the uses for which information may be shared.

(b)

Consultation

(c)

Report

(Pub. L. 106–102, title V, § 508, Nov. 12, 1999, 113 Stat. 1442.)

cite as: 15 USC 6808