[Code of Federal Regulations]
[Title 12, Volume 6]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR716.1]

[Page 566-567]
 
                       TITLE 12--BANKS AND BANKING
 
            CHAPTER VII--NATIONAL CREDIT UNION ADMINISTRATION
 
PART 716_PRIVACY OF CONSUMER FINANCIAL INFORMATION--Table of Contents
 
Sec. 716.1  Purpose and scope.

    (a) Purpose. This part governs the treatment of nonpublic personal 
information about consumers by the credit unions listed in paragraph (b) 
of this section. This part:
    (1) Requires a credit union to provide notice to members about its 
privacy policies and practices;
    (2) Describes the conditions under which a credit union may disclose 
nonpublic personal information about consumers to nonaffiliated third 
parties; and
    (3) Provides a method for consumers to prevent a credit union from 
disclosing that information to most nonaffiliated third parties by 
``opting out'' of that disclosure, subject to the exceptions in Sec. 
Sec. 716.13, 716.14, and 716.15.

[[Page 567]]

    (b) Scope. (1) This part applies only to nonpublic personal 
information about individuals who obtain financial products or services 
for personal, family or household purposes. This part does not apply to 
information about companies or about individuals who obtain financial 
products or services for business, commercial or agricultural purposes. 
This part applies to federally-insured credit unions. This part refers 
to a federally-insured credit union as ``you'' or ``the credit union.''
    (2) Nothing in this part modifies, limits, or supersedes the 
standards governing individually identifiable financial information 
promulgated by the Secretary of Health and Human Services under the 
authority of Sec. Sec. 262 and 264 of the Health Insurance Portability 
and Accountability Act of 1996 (42 U.S.C. 1320d-1320d-8).