NCUA LETTER TO CREDIT UNIONS

NATIONAL CREDIT UNION ADMINISTRATION
1775 Duke Street, Alexandria, VA  22314

DATE:       February 2002                                           LETTER NO.:  02-CU-02

TO:            All Federally Insured Credit Unions

SUBJ:      NCUA’s Privacy of Consumer Financial Information Examination Program

ENCL:      1)      Privacy of Consumer Financial Information
                   2)      Questionnaire - Privacy of Consumer Financial Information

Dear Board Of Directors:

NCUA’ s recent Letter to Credit Unions 01-CU-02 provided information about requirements relating to consumer financial privacy to assist credit unions in complying with Title V, Section 502, Subtitle A of the Gramm-Leach-Bliley Act (the “Act”).  The purpose of this letter is to provide additional information regarding the NCUA examination procedures to assist in complying with the Act.

Examination procedure requires the completion of the enclosed questionnaire, “Privacy of Consumer Financial Information.”  This questionnaire includes, in summary format, key areas of review.

For your reference, I am also enclosing documentation adapted from Federal Financial Institutions Examination Council (FFIEC) guidelines.  This documentation includes an introduction to Privacy of Consumer Financial Information, as well as examination procedures, a flowchart, and an examination checklist.  

                                                                        Sincerely,

                                                                          /S/

                                                                        Dennis Dollar
                                                                        Chairman

Because of the graphical complexity you must view PDF version to see Enclosures