Thursday,
March 29, 2007
Part III
Department of the Treasury
Office of the Comptroller of the
Currency
12 CFR Part 40
Office of Thrift Supervision
12 CFR Part 573
Federal Reserve System
12 CFR Part 216
Federal Deposit Insurance
Corporation
12 CFR Part 332
National Credit Union
Administration
12 CFR Part 716
Federal Trade Commission
16 CFR Part 313
Commodity Futures Trading
Commission
17 CFR Part 160
Securities and Exchange
Commission
17 CFR Part 248
Interagency Proposal for Model Privacy
Form Under the Gramm-Leach-Bliley Act;
Proposed Rule
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March 29, 2007
Part III
Department of the Treasury
Office of the Comptroller of the
Currency
12 CFR Part 40
Office of Thrift Supervision
12 CFR Part 573
Federal Reserve System
12 CFR Part 216
Federal Deposit Insurance
Corporation
12 CFR Part 332
National Credit Union
Administration
12 CFR Part 716
Federal Trade Commission
16 CFR Part 313
Commodity Futures Trading
Commission
17 CFR Part 160
Securities and Exchange
Commission
17 CFR Part 248
Interagency Proposal for Model Privacy
Form Under the Gramm-Leach-Bliley Act;
Proposed Rule
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rwilkins on PROD1PC63 with PROPOSALS
14940 Federal Register / Vol. 72, No. 60 / Thursday, March 29, 2007 / Proposed Rules
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Part 40
[Docket ID OCC–2007–0003]
RIN 1557–AC80
FEDERAL RESERVE SYSTEM
12 CFR Part 216
[Docket No. R–1280]
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 332
RIN 3064–AD16
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
12 CFR Part 573
[Docket ID OTS–2007–0005]
RIN 1550–AC12
NATIONAL CREDIT UNION
ADMINISTRATION
12 CFR Part 716
RIN 3133–AC84
FEDERAL TRADE COMMISSION
16 CFR Part 313
[Project No. 034815]
RIN 3084–AA94
COMMODITY FUTURES TRADING
COMMISSION
17 CFR Part 160
RIN 3038–AC04
SECURITIES AND EXCHANGE
COMMISSION
17 CFR Part 248
[Release Nos. 34–55497, IA–2598, IC–27755;
File No. S7–09–07]
RIN 3235–AJO6
Interagency Proposal for Model
Privacy Form Under the Gramm-Leach-
Bliley Act
AGENCIES: Office of the Comptroller of
the Currency, Treasury (OCC); Board of
Governors of the Federal Reserve
System (Board); Federal Deposit
Insurance Corporation (FDIC); Office of
Thrift Supervision, Treasury (OTS);
National Credit Union Administration
(NCUA); Federal Trade Commission
(FTC); Commodity Futures Trading
Commission (CFTC); and Securities and
Exchange Commission (SEC).
ACTION: Proposed rule.
SUMMARY: The OCC, Board, FDIC, OTS,
NCUA, FTC, CFTC, and SEC (the
Agencies) are proposing amendments to
their rules that implement the privacy
provisions of the Gramm-Leach-Bliley
Act (GLB Act), Title V, Subtitle A. These
rules require financial institutions to
provide initial and annual privacy
notices to their customers. As required
under section 728 of the Financial
Services Regulatory Relief Act of 2006
(Regulatory Relief Act or Act), the
Agencies are proposing a safe harbor
model privacy form that financial
institutions may use to provide
disclosures under the privacy rules.
Institutions that use notices based on
the Sample Clauses currently contained
in most of the privacy rules would lose
the benefit of a safe harbor for
compliance with respect to those
notices if they are provided more than
one year following the date of
publication of a final rule. Similarly,
institutions that use notices based on
the Sample Clauses in the SEC’s privacy
rule could no longer rely on the
guidance provided with respect to those
notices if they are provided more than
one year following the date of
publication of a final rule.
DATES: Comments must be submitted on
or before May 29, 2007.
For information regarding the
effective dates of the provisions
proposed in this document, see the
discussion under ‘‘Proposed Effective
Dates’’ in the SUPPLEMENTARY
INFORMATION section.
ADDRESSES: Because the Agencies will
jointly review all of the comments
submitted, interested parties may send
comments to any of the Agencies and
need not send comments (or copies) to
all of the Agencies. Commenters are
encouraged to use the title ‘‘Model
Privacy Form’’ to facilitate the
organization and distribution of
comments among the Agencies.
Interested parties are invited to submit
written comments to:
Office of the Comptroller of the
Currency: You may submit comments by
any of the following methods:
• Federal eRulemaking Portal—
‘‘Regulations.gov’’: Go to http://
www.regulations.gov, select
‘‘Comptroller of the Currency’’ from the
agency drop-down menu, then click
‘‘Submit.’’ In the ‘‘Docket ID’’ column,
select ‘‘OCC–2007–0003’’ to submit or
view public comments and to view
supporting and related materials for this
notice of proposed rulemaking. The
‘‘User Tips’’ link at the top of the
Regulations.gov home page provides
information on using Regulations.gov,
including instructions for submitting or
viewing public comments, viewing
other supporting and related materials,
and viewing the docket after the close
of the comment period.
• Mail: Office of the Comptroller of
the Currency, 250 E Street, SW., Mail
Stop 1–5, Washington, DC 20219.
• Hand Delivery/Courier: 250 E
Street, SW., Attn: Public Information
Room, Mail Stop 1–5, Washington, DC
20219.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘Docket
Number OCC–2007–0003’’ in your
comment. In general, OCC will enter all
comments received into the docket and
publish them on Regulations.gov
without change, including any business
or personal information that you
provide such as name and address
information, e-mail addresses, or phone
numbers. Comments, including
attachments and other supporting
materials, received are part of the public
record and subject to public disclosure.
Do not enclose any information in your
comment or supporting materials that
you consider confidential or
inappropriate for public disclosure.
You may review comments and other
related materials by any of the following
methods:
• Viewing Comments Electronically:
Go to http://www.regulations.gov, select
‘‘Comptroller of the Currency’’ from the
agency drop-down menu, then click
‘‘Submit.’’ In the ‘‘Docket ID’’ column,
select ‘‘OCC–2007–0003’’ to view public
comments for this notice of proposed
rulemaking.
• Viewing Comments Personally: You
may personally inspect and photocopy
comments at the OCC’s Public
Information Room, 250 E Street, SW.,
Washington, DC. You can make an
appointment to inspect comments by
calling (202) 874–5043.
• Docket: You may also view or
request available background
documents and project summaries using
the methods described above.
Board of Governors of the Federal
Reserve System: You may submit
comments, identified by Docket No. R–
1280, by any of the following methods:
• Agency Web Site: http://
www.federalreserve.gov. Follow the
instructions for submitting comments at
http://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
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rwilkins on PROD1PC63 with PROPOSALS
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Part 40
[Docket ID OCC–2007–0003]
RIN 1557–AC80
FEDERAL RESERVE SYSTEM
12 CFR Part 216
[Docket No. R–1280]
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 332
RIN 3064–AD16
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
12 CFR Part 573
[Docket ID OTS–2007–0005]
RIN 1550–AC12
NATIONAL CREDIT UNION
ADMINISTRATION
12 CFR Part 716
RIN 3133–AC84
FEDERAL TRADE COMMISSION
16 CFR Part 313
[Project No. 034815]
RIN 3084–AA94
COMMODITY FUTURES TRADING
COMMISSION
17 CFR Part 160
RIN 3038–AC04
SECURITIES AND EXCHANGE
COMMISSION
17 CFR Part 248
[Release Nos. 34–55497, IA–2598, IC–27755;
File No. S7–09–07]
RIN 3235–AJO6
Interagency Proposal for Model
Privacy Form Under the Gramm-Leach-
Bliley Act
AGENCIES: Office of the Comptroller of
the Currency, Treasury (OCC); Board of
Governors of the Federal Reserve
System (Board); Federal Deposit
Insurance Corporation (FDIC); Office of
Thrift Supervision, Treasury (OTS);
National Credit Union Administration
(NCUA); Federal Trade Commission
(FTC); Commodity Futures Trading
Commission (CFTC); and Securities and
Exchange Commission (SEC).
ACTION: Proposed rule.
SUMMARY: The OCC, Board, FDIC, OTS,
NCUA, FTC, CFTC, and SEC (the
Agencies) are proposing amendments to
their rules that implement the privacy
provisions of the Gramm-Leach-Bliley
Act (GLB Act), Title V, Subtitle A. These
rules require financial institutions to
provide initial and annual privacy
notices to their customers. As required
under section 728 of the Financial
Services Regulatory Relief Act of 2006
(Regulatory Relief Act or Act), the
Agencies are proposing a safe harbor
model privacy form that financial
institutions may use to provide
disclosures under the privacy rules.
Institutions that use notices based on
the Sample Clauses currently contained
in most of the privacy rules would lose
the benefit of a safe harbor for
compliance with respect to those
notices if they are provided more than
one year following the date of
publication of a final rule. Similarly,
institutions that use notices based on
the Sample Clauses in the SEC’s privacy
rule could no longer rely on the
guidance provided with respect to those
notices if they are provided more than
one year following the date of
publication of a final rule.
DATES: Comments must be submitted on
or before May 29, 2007.
For information regarding the
effective dates of the provisions
proposed in this document, see the
discussion under ‘‘Proposed Effective
Dates’’ in the SUPPLEMENTARY
INFORMATION section.
ADDRESSES: Because the Agencies will
jointly review all of the comments
submitted, interested parties may send
comments to any of the Agencies and
need not send comments (or copies) to
all of the Agencies. Commenters are
encouraged to use the title ‘‘Model
Privacy Form’’ to facilitate the
organization and distribution of
comments among the Agencies.
Interested parties are invited to submit
written comments to:
Office of the Comptroller of the
Currency: You may submit comments by
any of the following methods:
• Federal eRulemaking Portal—
‘‘Regulations.gov’’: Go to http://
www.regulations.gov, select
‘‘Comptroller of the Currency’’ from the
agency drop-down menu, then click
‘‘Submit.’’ In the ‘‘Docket ID’’ column,
select ‘‘OCC–2007–0003’’ to submit or
view public comments and to view
supporting and related materials for this
notice of proposed rulemaking. The
‘‘User Tips’’ link at the top of the
Regulations.gov home page provides
information on using Regulations.gov,
including instructions for submitting or
viewing public comments, viewing
other supporting and related materials,
and viewing the docket after the close
of the comment period.
• Mail: Office of the Comptroller of
the Currency, 250 E Street, SW., Mail
Stop 1–5, Washington, DC 20219.
• Hand Delivery/Courier: 250 E
Street, SW., Attn: Public Information
Room, Mail Stop 1–5, Washington, DC
20219.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘Docket
Number OCC–2007–0003’’ in your
comment. In general, OCC will enter all
comments received into the docket and
publish them on Regulations.gov
without change, including any business
or personal information that you
provide such as name and address
information, e-mail addresses, or phone
numbers. Comments, including
attachments and other supporting
materials, received are part of the public
record and subject to public disclosure.
Do not enclose any information in your
comment or supporting materials that
you consider confidential or
inappropriate for public disclosure.
You may review comments and other
related materials by any of the following
methods:
• Viewing Comments Electronically:
Go to http://www.regulations.gov, select
‘‘Comptroller of the Currency’’ from the
agency drop-down menu, then click
‘‘Submit.’’ In the ‘‘Docket ID’’ column,
select ‘‘OCC–2007–0003’’ to view public
comments for this notice of proposed
rulemaking.
• Viewing Comments Personally: You
may personally inspect and photocopy
comments at the OCC’s Public
Information Room, 250 E Street, SW.,
Washington, DC. You can make an
appointment to inspect comments by
calling (202) 874–5043.
• Docket: You may also view or
request available background
documents and project summaries using
the methods described above.
Board of Governors of the Federal
Reserve System: You may submit
comments, identified by Docket No. R–
1280, by any of the following methods:
• Agency Web Site: http://
www.federalreserve.gov. Follow the
instructions for submitting comments at
http://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
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rwilkins on PROD1PC63 with PROPOSALS