Model Privacy Policy issued by the Feds

The FTC and seven other Federal agencies released their model privacy policy based on interviews with consumers and feedback from all of the agencies involved. Any organizations that fall under the regulatory auspices of one of those agencies, or has GLBA requirements would be well advised to take this “requirement” into consideration before it comes up in an action against the organization and you are facing an auditor asking you why you did not take this into consideration. See intro from the press release and a link to the entire release as well as the template.

From the FTC
Eight federal regulatory agencies today released a final model privacy notice form that will make it easier for consumers to understand how financial institutions collect and share information about consumers. Under the Gramm-Leach-Bliley Act (GLB Act), institutions must notify consumers of their information-sharing practices and inform consumers of their right to opt out of certain sharing practices. The model form issued today can be used by financial institutions to comply with these requirements. Read more