[Code of Federal Regulations]

[Title 12, Volume 6]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR716.12]



[Page 554]

 

                       TITLE 12--BANKS AND BANKING

 

            CHAPTER VII--NATIONAL CREDIT UNION ADMINISTRATION

 

PART 716_PRIVACY OF CONSUMER FINANCIAL INFORMATION--Table of Contents

 

                     Subpart B_Limits on Disclosures

 

Sec. 716.12  Limits on sharing of account number information for 

marketing purposes.



    (a) General prohibition on disclosure of account numbers. You must 

not, directly or through an affiliate, disclose, other than to a 

consumer reporting agency, an account number or similar form of access 

number or access code for a consumer's credit card account, share 

account or transaction account to any nonaffiliated third party for use 

in telemarketing, direct mail marketing or other marketing through 

electronic mail to the consumer.

    (b) Exceptions. Paragraph (a) of this section does not apply if you 

disclose an account number or similar form of access number or access 

code:

    (1) To your agent or service provider solely in order to perform 

marketing for your own products or services, as long as the agent or 

service provider cannot directly initiate charges to the account; or

    (2) To a participant in a private label credit card program or an 

affinity or similar program where the participants in the program are 

identified to the member when the member enters into the program.

    (c) Examples--(1) Account number. An account number, or similar form 

of access number or access code, does not include a number or code in an 

encrypted form, as long as you do not provide the recipient with a means 

to decode the number or code.

    (2) Transaction account. A transaction account is an account other 

than a share or credit card account. A transaction account does not 

include an account to which a third party cannot initiate a charge.