---
kind: "range"
citation: "15 U.S.C. §§ 6801–6827"
title: "15"
from: "6801"
to: "6827"
count: 16
release: "119-102"
url: "https://uscodex.org/usc/15/6801..6827"
---

# §6801. Protection of nonpublic personal information

- (a) **Privacy obligation policy—** It is the policy of the Congress that each [financial institution](/usc/15/6809.md?p=3-A) has an affirmative and continuing obligation to respect the privacy of its [customers](/usc/15/78c–5.md?p=g) and to protect the [security](/usc/15/78lll.md?p=14) and confidentiality of those [customers](/usc/15/78c–5.md?p=g)’ [nonpublic personal information](/usc/15/6809.md?p=4-A).
- (b) **Financial institutions safeguards—** In furtherance of the policy in [subsection (a)](#a), each agency or [authority](/usc/15/3051.md?p=1) described in [section 6805(a) of this title](/usc/15/6805.md?p=a), other than the Bureau of [Consumer](/usc/15/6809.md?p=9) Financial Protection, shall establish appropriate standards for the [financial institutions](/usc/15/6809.md?p=3-A) subject to their jurisdiction relating to administrative, technical, and physical safeguards—
  - (1) to insure the [security](/usc/15/78lll.md?p=14) and confidentiality of [customer](/usc/15/78c–5.md?p=g) records and information;
  - (2) to protect against any anticipated threats or hazards to the [security](/usc/15/78lll.md?p=14) or integrity of such records; and
  - (3) to protect against unauthorized access to or use of such records or information which could result in substantial harm or inconvenience to any [customer](/usc/15/78c–5.md?p=g).

# §6802. Obligations with respect to disclosures of personal information

- (a) **Notice requirements—** Except as otherwise provided in this subchapter, a [financial institution](/usc/15/6809.md?p=3-A) may not, directly or through any [affiliate](/usc/15/6809.md?p=6), disclose to a [nonaffiliated third party](/usc/15/6809.md?p=5) any [nonpublic personal information](/usc/15/6809.md?p=4-A), unless such [financial institution](/usc/15/6809.md?p=3-A) provides or has provided to the [consumer](/usc/15/6809.md?p=9) a notice that complies with [section 6803 of this title](/usc/15/6803.md).
- (b) **Opt out—**
  - (1) **In general—** A [financial institution](/usc/15/6809.md?p=3-A) may not disclose [nonpublic personal information](/usc/15/6809.md?p=4-A) to a [nonaffiliated third party](/usc/15/6809.md?p=5) unless—
    - (A) such [financial institution](/usc/15/6809.md?p=3-A) clearly and conspicuously discloses to the [consumer](/usc/15/6809.md?p=9), in writing or in electronic form or other form permitted by the regulations prescribed under [section 6804 of this title](/usc/15/6804.md), that such information may be disclosed to such third party;
    - (B) the [consumer](/usc/15/6809.md?p=9) is given the opportunity, before the time that such information is initially disclosed, to direct that such information not be disclosed to such third party; and
    - (C) the [consumer](/usc/15/6809.md?p=9) is given an explanation of how the [consumer](/usc/15/6809.md?p=9) can exercise that nondisclosure option.
  - (2) **Exception—** This subsection shall not prevent a [financial institution](/usc/15/6809.md?p=3-A) from providing [nonpublic personal information](/usc/15/6809.md?p=4-A) to a [nonaffiliated third party](/usc/15/6809.md?p=5) to perform services for or functions on behalf of the [financial institution](/usc/15/6809.md?p=3-A), including marketing of the [financial institution](/usc/15/6809.md?p=3-A)’s own products or services, or financial products or services offered pursuant to [joint agreements](/usc/15/6809.md?p=10) between two or more [financial institutions](/usc/15/6809.md?p=3-A) that comply with the requirements imposed by the regulations prescribed under [section 6804 of this title](/usc/15/6804.md), if the [financial institution](/usc/15/6809.md?p=3-A) fully discloses the providing of such information and enters into a contractual [agreement](/usc/15/7a.md?p=2) with the third party that requires the third party to maintain the confidentiality of such information.
- (c) **Limits on reuse of information—** Except as otherwise provided in this subchapter, a [nonaffiliated third party](/usc/15/6809.md?p=5) that receives from a [financial institution](/usc/15/6809.md?p=3-A) [nonpublic personal information](/usc/15/6809.md?p=4-A) under this section shall not, directly or through an [affiliate](/usc/15/6809.md?p=6) of such receiving third party, disclose such information to any other [person](/usc/15/78m.md?p=h-8-E) that is a [nonaffiliated third party](/usc/15/6809.md?p=5) of both the [financial institution](/usc/15/6809.md?p=3-A) and such receiving third party, unless such disclosure would be lawful if made directly to such other [person](/usc/15/78m.md?p=h-8-E) by the [financial institution](/usc/15/6809.md?p=3-A).
- (d) **Limitations on the sharing of account number information for marketing purposes—** A [financial institution](/usc/15/6809.md?p=3-A) shall not disclose, other than to a [consumer](/usc/15/6809.md?p=9) reporting agency, an [account](/usc/15/1681a.md?p=r-4) number or similar form of access number or access code for a [credit card](/usc/15/1681a.md?p=r-2) [account](/usc/15/1681a.md?p=r-4), deposit [account](/usc/15/1681a.md?p=r-4), or transaction [account](/usc/15/1681a.md?p=r-4) of a [consumer](/usc/15/6809.md?p=9) to any [nonaffiliated third party](/usc/15/6809.md?p=5) for use in telemarketing, direct mail marketing, or other marketing through electronic mail to the [consumer](/usc/15/6809.md?p=9).
- (e) **General exceptions—** Subsections [(a)](#a) and [(b)](#b) shall not prohibit the disclosure of [nonpublic personal information](/usc/15/6809.md?p=4-A)—
  - (1) as necessary to effect, administer, or enforce a transaction requested or authorized by the [consumer](/usc/15/6809.md?p=9), or in connection with—
    - (A) servicing or processing a financial product or service requested or authorized by the [consumer](/usc/15/6809.md?p=9);
    - (B) maintaining or servicing the [consumer](/usc/15/6809.md?p=9)’s [account](/usc/15/1681a.md?p=r-4) with the [financial institution](/usc/15/6809.md?p=3-A), or with another entity as part of a private label [credit card](/usc/15/1681a.md?p=r-2) [program](/usc/15/2921.md?p=6) or other extension of [credit](/usc/15/1679a.md?p=4) on behalf of such entity; or
    - (C) a proposed or actual securitization, secondary market sale (including sales of servicing rights), or similar transaction related to a transaction of the [consumer](/usc/15/6809.md?p=9);
  - (2) with the consent or at the direction of the [consumer](/usc/15/6809.md?p=9);
  - (3)
    - (A) to protect the confidentiality or [security](/usc/15/78lll.md?p=14) of the [financial institution](/usc/15/6809.md?p=3-A)’s records pertaining to the [consumer](/usc/15/6809.md?p=9), the service or product, or the transaction therein; (B) to protect against or prevent actual or potential fraud, unauthorized transactions, claims, or other liability; (C) for required institutional risk control, or for resolving [customer](/usc/15/78c–5.md?p=g) disputes or inquiries; (D) to [persons](/usc/15/78m.md?p=h-8-E) holding a legal or beneficial interest relating to the [consumer](/usc/15/6809.md?p=9); or (E) to [persons](/usc/15/78m.md?p=h-8-E) acting in a fiduciary or representative capacity on behalf of the [consumer](/usc/15/6809.md?p=9);
  - (4) to provide information to insurance rate advisory organizations, guaranty funds or agencies, applicable rating agencies of the [financial institution](/usc/15/6809.md?p=3-A), [persons](/usc/15/78m.md?p=h-8-E) assessing the institution’s compliance with industry standards, and the institution’s attorneys, accountants, and auditors;
  - (5) to the extent specifically permitted or required under other provisions of law and in accordance with the Right to Financial Privacy Act of 1978 [[12 U.S.C. 3401](/usc/12/3401.md) et seq.], to law enforcement agencies (including the Bureau of [Consumer](/usc/15/6809.md?p=9) Financial Protection[^1] a [Federal functional regulator](/usc/15/6809.md?p=2), the Secretary of the Treasury with respect to subchapter II of [chapter 53](/usc/31/chstIV-ch53.md) of title 31, and [chapter 2](/usc/15/ch2.md) of title I of Public Law 91–508 ([12 U.S.C. 1951–195](https://uscode.house.gov/view.xhtml?req=(/us/usc/t12/s1951–195))9), a [State insurance authority](/usc/15/6809.md?p=8), or the Federal Trade [Commission](/usc/15/78c.md?p=a-15)), [self-regulatory organizations](/usc/15/78c.md?p=a-26), or for an investigation on a matter related to public safety;
  - (6)
    - (A) to a [consumer](/usc/15/6809.md?p=9) reporting agency in accordance with the Fair [Credit](/usc/15/1679a.md?p=4) Reporting Act [[15 U.S.C. 1681](/usc/15/1681.md) et seq.], or (B) from a [consumer](/usc/15/6809.md?p=9) report reported by a [consumer](/usc/15/6809.md?p=9) reporting agency;
  - (7) in connection with a proposed or actual sale, merger, transfer, or [exchange](/usc/15/636.md?p=a-36-A-xvi) of all or a portion of a business or operating unit if the disclosure of [nonpublic personal information](/usc/15/6809.md?p=4-A) concerns solely [consumers](/usc/15/6809.md?p=9) of such business or unit; or
  - (8) to comply with Federal, [State](/usc/15/15g.md?p=2), or local laws, rules, and other applicable legal requirements; to comply with a properly authorized civil, criminal, or regulatory investigation or subpoena or summons by Federal, [State](/usc/15/15g.md?p=2), or local [authorities](/usc/15/3051.md?p=1); or to respond to judicial process or government regulatory [authorities](/usc/15/3051.md?p=1) having jurisdiction over the [financial institution](/usc/15/6809.md?p=3-A) for examination, compliance, or other purposes as authorized by law.

# §6803. Disclosure of institution privacy policy

- (a) **Disclosure required—** At the [time of establishing a customer relationship](/usc/15/6809.md?p=11) with a [consumer](/usc/15/6809.md?p=9) and not less than annually during the continuation of such relationship, a [financial institution](/usc/15/6809.md?p=3-A) shall provide a clear and conspicuous disclosure to such [consumer](/usc/15/6809.md?p=9), in writing or in electronic form or other form permitted by the regulations prescribed under [section 6804 of this title](/usc/15/6804.md), of such [financial institution](/usc/15/6809.md?p=3-A)’s policies and practices with respect to—
  - (1) disclosing [nonpublic personal information](/usc/15/6809.md?p=4-A) to [affiliates](/usc/15/6809.md?p=6) and [nonaffiliated third parties](/usc/15/6809.md?p=5), consistent with [section 6802 of this title](/usc/15/6802.md), including the categories of information that may be disclosed;
  - (2) disclosing [nonpublic personal information](/usc/15/6809.md?p=4-A) of [persons](/usc/15/78m.md?p=h-8-E) who have ceased to be [customers](/usc/15/78c–5.md?p=g) of the [financial institution](/usc/15/6809.md?p=3-A); and
  - (3) protecting the [nonpublic personal information](/usc/15/6809.md?p=4-A) of [consumers](/usc/15/6809.md?p=9).
- (b) **Regulations—** Disclosures required by [subsection (a)](#a) shall be made in accordance with the regulations prescribed under [section 6804 of this title](/usc/15/6804.md).
- (c) **Information to be included—** The disclosure required by [subsection (a)](#a) shall include—
  - (1) the policies and practices of the institution with respect to disclosing [nonpublic personal information](/usc/15/6809.md?p=4-A) to [nonaffiliated third parties](/usc/15/6809.md?p=5), other than agents of the institution, consistent with [section 6802 of this title](/usc/15/6802.md), and including—
    - (A) the categories of [persons](/usc/15/78m.md?p=h-8-E) to whom the information is or may be disclosed, other than the [persons](/usc/15/78m.md?p=h-8-E) to whom the information may be provided pursuant to [section 6802(e) of this title](/usc/15/6802.md?p=e); and
    - (B) the policies and practices of the institution with respect to disclosing of [nonpublic personal information](/usc/15/6809.md?p=4-A) of [persons](/usc/15/78m.md?p=h-8-E) who have ceased to be [customers](/usc/15/78c–5.md?p=g) of the [financial institution](/usc/15/6809.md?p=3-A);
  - (2) the categories of [nonpublic personal information](/usc/15/6809.md?p=4-A) that are collected by the [financial institution](/usc/15/6809.md?p=3-A);
  - (3) the policies that the institution maintains to protect the confidentiality and [security](/usc/15/78lll.md?p=14) of [nonpublic personal information](/usc/15/6809.md?p=4-A) in accordance with [section 6801 of this title](/usc/15/6801.md); and
  - (4) the disclosures required, if any, under [section 1681a(d)(2)(A)(iii) of this title](/usc/15/1681a.md?p=d-2-A-iii).
- (d) **Exemption for certified public accountants—**
  - (1) **In general—** The disclosure requirements of [subsection (a)](#a) do not apply to any [person](/usc/15/78m.md?p=h-8-E), to the extent that the [person](/usc/15/78m.md?p=h-8-E) is—
    - (A) a certified public accountant;
    - (B) certified or licensed for such purpose by a [State](#d-3); and
    - (C) subject to any provision of law, rule, or regulation issued by a legislative or regulatory body of the [State](#d-3), including rules of professional conduct or ethics, that prohibits disclosure of [nonpublic personal information](/usc/15/6809.md?p=4-A) without the knowing and expressed consent of the [consumer](/usc/15/6809.md?p=9).
  - (2) **Limitation—** Nothing in this subsection shall be construed to exempt or otherwise exclude any [financial institution](/usc/15/6809.md?p=3-A) that is affiliated or becomes affiliated with a certified public accountant described in [paragraph (1)](#d-1) from any provision of this section.
  - (3) **Definitions—** For purposes of this subsection, the term “State” means any State or territory of the United States, the District of Columbia, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, or the Northern Mariana Islands.
- (e) **Model forms—**
  - (1) **In general—** The agencies referred to in [section 6804(a)(1) of this title](/usc/15/6804.md?p=a-1) shall jointly develop a model form which may be used, at the option of the [financial institution](/usc/15/6809.md?p=3-A), for the provision of disclosures under this section.
  - (2) **Format—** A model form developed under [paragraph (1)](#e-1) shall—
    - (A) be comprehensible to [consumers](/usc/15/6809.md?p=9), with a clear format and design;
    - (B) provide for clear and conspicuous disclosures;
    - (C) enable [consumers](/usc/15/6809.md?p=9) easily to identify the sharing practices of a [financial institution](/usc/15/6809.md?p=3-A) and to compare privacy practices among [financial institutions](/usc/15/6809.md?p=3-A); and
    - (D) be succinct, and use an easily readable type font.
  - (3) **Timing—** A model form required to be developed by this subsection shall be issued in proposed form for public comment not later than 180 days after October 13, 2006.
  - (4) **Safe harbor—** Any [financial institution](/usc/15/6809.md?p=3-A) that elects to provide the model form developed by the agencies under this subsection shall be deemed to be in compliance with the disclosures required under this section.
- (f) **Exception to annual notice requirement—** A [financial institution](/usc/15/6809.md?p=3-A) that—
  - (1) provides [nonpublic personal information](/usc/15/6809.md?p=4-A) only in accordance with the provisions of subsection (b)(2) or (e) of [section 6802 of this title](/usc/15/6802.md) or regulations prescribed under [section 6804(b) of this title](/usc/15/6804.md?p=b), and
  - (2) has not changed its policies and practices with regard to disclosing [nonpublic personal information](/usc/15/6809.md?p=4-A) from the policies and practices that were disclosed in the most recent disclosure sent to [consumers](/usc/15/6809.md?p=9) in accordance with this section,

  shall not be required to provide an annual disclosure under this section until such time as the [financial institution](/usc/15/6809.md?p=3-A) fails to comply with any criteria described in paragraph [(1)](#f-1) or [(2)](#f-2).


# §6804. Rulemaking

- (a) **Regulatory authority—**
  - (1) **Rulemaking—**
    - (A) **In general—** Except as provided in [subparagraph (C)](#a-1-C), the Bureau of [Consumer](/usc/15/6809.md?p=9) Financial Protection and the [Securities](/usc/15/78lll.md?p=14) and [Exchange](/usc/15/636.md?p=a-36-A-xvi) [Commission](/usc/15/78c.md?p=a-15) shall have [authority](/usc/15/3051.md?p=1) to prescribe such regulations as may be necessary to carry out the purposes of this subchapter with respect to [financial institutions](/usc/15/6809.md?p=3-A) and other [persons](/usc/15/78m.md?p=h-8-E) subject to their respective jurisdiction under [section 6805 of this title](/usc/15/6805.md) (and notwithstanding subtitle B of the [Consumer](/usc/15/6809.md?p=9) Financial Protection Act of 2010 [[12 U.S.C. 5511](/usc/12/5511.md) et seq.]), except that the Bureau of [Consumer](/usc/15/6809.md?p=9) Financial Protection shall not have [authority](/usc/15/3051.md?p=1) to prescribe regulations with respect to the standards under [section 6801 of this title](/usc/15/6801.md).
    - (B) **CFTC—** The Commodity Futures Trading [Commission](/usc/15/78c.md?p=a-15) shall have [authority](/usc/15/3051.md?p=1) to prescribe such regulations as may be necessary to carry out the purposes of this subchapter with respect to [financial institutions](/usc/15/6809.md?p=3-A) and other [persons](/usc/15/78m.md?p=h-8-E) subject to the jurisdiction of the Commodity Futures Trading [Commission](/usc/15/78c.md?p=a-15) under [section 7b–2 of title 7](/usc/7/7b–2.md).
    - (C) **Federal Trade Commission authority—** Notwithstanding the [authority](/usc/15/3051.md?p=1) of the Bureau of [Consumer](/usc/15/6809.md?p=9) Financial Protection under [subparagraph (A)](#a-1-A), the Federal Trade [Commission](/usc/15/78c.md?p=a-15) shall have [authority](/usc/15/3051.md?p=1) to prescribe such regulations as may be necessary to carry out the purposes of this subchapter with respect to any [financial institution](/usc/15/6809.md?p=3-A) that is a [person](/usc/15/78m.md?p=h-8-E) described in section 1029(a) of the [Consumer](/usc/15/6809.md?p=9) Financial Protection Act of 2010 [[12 U.S.C. 5519(a)](/usc/12/5519.md?p=a)].
    - (D) **Rule of construction—** Nothing in this paragraph shall be construed to alter, affect, or otherwise limit the [authority](/usc/15/3051.md?p=1) of a [State insurance authority](/usc/15/6809.md?p=8) to adopt regulations to carry out this subchapter.
  - (2) **Coordination, consistency, and comparability—** Each of the agencies authorized under [paragraph (1)](#a-1) to prescribe regulations shall consult and coordinate with the other such agencies and, as appropriate, and with[^1] representatives of [State insurance authorities](/usc/15/6809.md?p=8) designated by the National [Association](/usc/15/657h.md?p=a-2) of Insurance Commissioners, for the purpose of assuring, to the extent possible, that the regulations prescribed by each such agency are consistent and comparable with the regulations prescribed by the other such agencies.
  - (3) **Procedures and deadline—** Such regulations shall be prescribed in accordance with applicable requirements of [title 5](/usc/5.md).
- (b) **Authority to grant exceptions—** The regulations prescribed under [subsection (a)](#a) may include such additional exceptions to subsections (a) through (d) of [section 6802 of this title](/usc/15/6802.md) as are deemed consistent with the purposes of this subchapter.

# §6805. Enforcement

- (a) **In general—** Subject to subtitle B of the [Consumer](/usc/15/6809.md?p=9) Financial Protection Act of 2010 [[12 U.S.C. 5511](/usc/12/5511.md) et seq.], this subchapter and the regulations prescribed thereunder shall be enforced by the Bureau of [Consumer](/usc/15/6809.md?p=9) Financial Protection, the [Federal functional regulators](/usc/15/6809.md?p=2), the [State insurance authorities](/usc/15/6809.md?p=8), and the Federal Trade [Commission](/usc/15/78c.md?p=a-15) with respect to [financial institutions](/usc/15/6809.md?p=3-A) and other [persons](/usc/15/78m.md?p=h-8-E) subject to their jurisdiction under applicable law, as follows:
  - (1) Under [section 1818 of title 12](/usc/12/1818.md), by the appropriate [Federal banking agency](/usc/15/6809.md?p=1), as defined in [section 1813(q) of title 12](/usc/12/1813.md?p=q), in the case of—
    - (A) national banks, Federal branches and [Federal agencies](/usc/15/3719.md?p=a-3) of foreign banks, and any subsidiaries of such entities (except [brokers](/usc/15/6102.md?p=d-2-B-i), [dealers](/usc/15/6102.md?p=d-2-B-i), [persons](/usc/15/78m.md?p=h-8-E) providing insurance, [investment companies](/usc/15/77z–2.md?p=i-2), and [investment advisers](/usc/15/6102.md?p=d-2-B-ii));
    - (B) member banks of the Federal Reserve System (other than national banks), branches and agencies of foreign banks (other than Federal branches, [Federal agencies](/usc/15/3719.md?p=a-3), and insured [State](/usc/15/15g.md?p=2) branches of foreign banks), commercial lending companies owned or controlled by foreign banks, organizations operating under section 25 or 25A of the Federal Reserve Act [[12 U.S.C. 601](/usc/12/601.md) et seq., 611 et seq.], and bank holding companies and their nonbank subsidiaries or [affiliates](/usc/15/6809.md?p=6) (except [brokers](/usc/15/6102.md?p=d-2-B-i), [dealers](/usc/15/6102.md?p=d-2-B-i), [persons](/usc/15/78m.md?p=h-8-E) providing insurance, [investment companies](/usc/15/77z–2.md?p=i-2), and [investment advisers](/usc/15/6102.md?p=d-2-B-ii));
    - (C) banks insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System), insured [State](/usc/15/15g.md?p=2) branches of foreign banks, and any subsidiaries of such entities (except [brokers](/usc/15/6102.md?p=d-2-B-i), [dealers](/usc/15/6102.md?p=d-2-B-i), [persons](/usc/15/78m.md?p=h-8-E) providing insurance, [investment companies](/usc/15/77z–2.md?p=i-2), and [investment advisers](/usc/15/6102.md?p=d-2-B-ii)); and
    - (D) savings [associations](/usc/15/657h.md?p=a-2) the deposits of which are insured by the Federal Deposit Insurance Corporation, and any subsidiaries of such savings [associations](/usc/15/657h.md?p=a-2) (except [brokers](/usc/15/6102.md?p=d-2-B-i), [dealers](/usc/15/6102.md?p=d-2-B-i), [persons](/usc/15/78m.md?p=h-8-E) providing insurance, [investment companies](/usc/15/77z–2.md?p=i-2), and [investment advisers](/usc/15/6102.md?p=d-2-B-ii)).
  - (2) Under the Federal [Credit](/usc/15/1679a.md?p=4) Union Act [[12 U.S.C. 1751](/usc/12/1751.md) et seq.], by the [Board](/usc/15/205c.md?p=1) of the National [Credit](/usc/15/1679a.md?p=4) Union [Administration](/usc/15/2203.md?p=2) with respect to any federally insured [credit](/usc/15/1679a.md?p=4) union, and any subsidiaries of such an entity.
  - (3) Under the [Securities](/usc/15/78lll.md?p=14) Exchange Act of 1934 [[15 U.S.C. 78a](/usc/15/78a.md) et seq.], by the [Securities](/usc/15/78lll.md?p=14) and [Exchange](/usc/15/636.md?p=a-36-A-xvi) [Commission](/usc/15/78c.md?p=a-15) with respect to any [broker or dealer](/usc/15/78c.md?p=h-2).
  - (4) Under the Investment Company Act of 1940 [[15 U.S.C. 80a–1](/usc/15/80a–1.md) et seq.], by the [Securities](/usc/15/78lll.md?p=14) and [Exchange](/usc/15/636.md?p=a-36-A-xvi) [Commission](/usc/15/78c.md?p=a-15) with respect to [investment companies](/usc/15/77z–2.md?p=i-2).
  - (5) Under the Investment Advisers Act of 1940 [[15 U.S.C. 80b–1](/usc/15/80b–1.md) et seq.], by the [Securities](/usc/15/78lll.md?p=14) and [Exchange](/usc/15/636.md?p=a-36-A-xvi) [Commission](/usc/15/78c.md?p=a-15) with respect to [investment advisers](/usc/15/6102.md?p=d-2-B-ii) registered with the [Commission](/usc/15/78c.md?p=a-15) under such Act.
  - (6) Under [State](/usc/15/15g.md?p=2) insurance law, in the case of any [person](/usc/15/78m.md?p=h-8-E) engaged in providing insurance, by the applicable [State insurance authority](/usc/15/6809.md?p=8) of the [State](/usc/15/15g.md?p=2) in which the [person](/usc/15/78m.md?p=h-8-E) is domiciled, subject to [section 6701 of this title](/usc/15/6701.md).
  - (7) Under the Federal Trade Commission Act [[15 U.S.C. 41](/usc/15/41.md) et seq.], by the Federal Trade [Commission](/usc/15/78c.md?p=a-15) for any other [financial institution](/usc/15/6809.md?p=3-A) or other [person](/usc/15/78m.md?p=h-8-E) that is not subject to the jurisdiction of any agency or [authority](/usc/15/3051.md?p=1) under [paragraphs (1) through (6)](#1..6) of this subsection.
  - (8) Under subtitle E of the [Consumer](/usc/15/6809.md?p=9) Financial Protection Act of 2010 [[12 U.S.C. 5561](/usc/12/5561.md) et seq.], by the Bureau of [Consumer](/usc/15/6809.md?p=9) Financial Protection, in the case of any [financial institution](/usc/15/6809.md?p=3-A) and other covered [person](/usc/15/78m.md?p=h-8-E) or service provider that is subject to the jurisdiction of the Bureau and any [person](/usc/15/78m.md?p=h-8-E) subject to this subchapter, but not with respect to the standards under [section 6801 of this title](/usc/15/6801.md).
- (b) **Enforcement of section 6801—**
  - (1) **In general—** Except as provided in [paragraph (2)](#b-2), the agencies and [authorities](/usc/15/3051.md?p=1) described in [subsection (a)](#a), other than the Bureau of [Consumer](/usc/15/6809.md?p=9) Financial Protection, shall implement the standards prescribed under [section 6801(b) of this title](/usc/15/6801.md?p=b) in the same manner, to the extent practicable, as standards prescribed pursuant to [section 1831p–1(a) of title 12](/usc/12/1831p–1.md?p=a) are implemented pursuant to such section.
  - (2) **Exception—** The agencies and [authorities](/usc/15/3051.md?p=1) described in paragraphs [(3)](#a-3), [(4)](#a-4), [(5)](#a-5), [(6)](#a-6), and [(7)](#a-7) of subsection (a) shall implement the standards prescribed under [section 6801(b) of this title](/usc/15/6801.md?p=b) by rule with respect to the [financial institutions](/usc/15/6809.md?p=3-A) and other [persons](/usc/15/78m.md?p=h-8-E) subject to their respective jurisdictions under [subsection (a)](#a).
- (c) **Absence of State action—** If a [State insurance authority](/usc/15/6809.md?p=8) fails to adopt regulations to carry out this subchapter, such [State](/usc/15/15g.md?p=2) shall not be eligible to override, pursuant to [section 1831x(g)(2)(B)(iii) of title 12](/usc/12/1831x.md?p=g-2-B-iii), the insurance [customer](/usc/15/78c–5.md?p=g) protection regulations prescribed by a [Federal banking agency](/usc/15/6809.md?p=1) under [section 1831x(a) of title 12](/usc/12/1831x.md?p=a).
- (d) **Definitions—** The terms used in [subsection (a)(1)](#a-1) that are not defined in this subchapter or otherwise defined in [section 1813(s) of title 12](/usc/12/1813.md?p=s) shall have the same meaning as given in [section 3101 of title 12](/usc/12/3101.md).

# §6806. Relation to other provisions


Except for the amendments made by subsections (a) and (b), nothing in this chapter shall be construed to modify, limit, or supersede the operation of the Fair [Credit](/usc/15/1679a.md?p=4) Reporting Act [[15 U.S.C. 1681](/usc/15/1681.md) et seq.], and no inference shall be drawn on the basis of the provisions of this chapter regarding whether information is transaction or experience information under section 603 of such Act [[15 U.S.C. 1681a](/usc/15/1681a.md)].


# §6807. Relation to State laws

- (a) **In general—** This subchapter and the amendments made by this subchapter shall not be construed as superseding, altering, or affecting any statute, regulation, [order](/usc/15/8702.md?p=14), or interpretation in effect in any [State](/usc/15/15g.md?p=2), except to the extent that such statute, regulation, [order](/usc/15/8702.md?p=14), or interpretation is inconsistent with the provisions of this subchapter, and then only to the extent of the inconsistency.
- (b) **Greater protection under State law—** For purposes of this section, a [State](/usc/15/15g.md?p=2) statute, regulation, [order](/usc/15/8702.md?p=14), or interpretation is not inconsistent with the provisions of this subchapter if the protection such statute, regulation, [order](/usc/15/8702.md?p=14), or interpretation affords any [person](/usc/15/78m.md?p=h-8-E) is greater than the protection provided under this subchapter and the amendments made by this subchapter, as determined by the Bureau of [Consumer](/usc/15/6809.md?p=9) Financial Protection, after consultation with the agency or [authority](/usc/15/3051.md?p=1) with jurisdiction under [section 6805(a) of this title](/usc/15/6805.md?p=a) of either the [person](/usc/15/78m.md?p=h-8-E) that initiated the complaint or that is the subject of the complaint, on its own motion or upon the petition of any interested party.

# §6808. Study of information sharing among financial affiliates

- (a) **In general—** The Secretary of the Treasury, in conjunction with the [Federal functional regulators](/usc/15/6809.md?p=2) and the Federal Trade [Commission](/usc/15/78c.md?p=a-15), shall conduct a study of information sharing practices among [financial institutions](/usc/15/6809.md?p=3-A) and their [affiliates](/usc/15/6809.md?p=6). Such study shall include—
  - (1) the purposes for the sharing of confidential [customer](/usc/15/78c–5.md?p=g) information with [affiliates](/usc/15/6809.md?p=6) or with [nonaffiliated third parties](/usc/15/6809.md?p=5);
  - (2) the extent and adequacy of [security](/usc/15/78lll.md?p=14) protections for such information;
  - (3) the potential risks for [customer](/usc/15/78c–5.md?p=g) privacy of such sharing of information;
  - (4) the potential benefits for [financial institutions](/usc/15/6809.md?p=3-A) and [affiliates](/usc/15/6809.md?p=6) of such sharing of information;
  - (5) the potential benefits for [customers](/usc/15/78c–5.md?p=g) of such sharing of information;
  - (6) the adequacy of existing laws to protect [customer](/usc/15/78c–5.md?p=g) privacy;
  - (7) the adequacy of [financial institution](/usc/15/6809.md?p=3-A) privacy policy and privacy rights disclosure under existing law;
  - (8) the feasibility of different approaches, including opt-out and opt-in, to permit [customers](/usc/15/78c–5.md?p=g) to direct that confidential information not be shared with [affiliates](/usc/15/6809.md?p=6) and [nonaffiliated third parties](/usc/15/6809.md?p=5); and
  - (9) the feasibility of restricting sharing of information for specific uses or of permitting [customers](/usc/15/78c–5.md?p=g) to direct the uses for which information may be shared.
- (b) **Consultation—** The Secretary shall consult with representatives of [State insurance authorities](/usc/15/6809.md?p=8) designated by the National [Association](/usc/15/657h.md?p=a-2) of Insurance Commissioners, and also with financial services industry, [consumer](/usc/15/6809.md?p=9) organizations and privacy groups, and other representatives of the general public, in formulating and conducting the study required by [subsection (a)](#a).
- (c) **Report—** On or before January 1, 2002, the Secretary shall submit a report to the Congress containing the findings and conclusions of the study required under [subsection (a)](#a), together with such recommendations for legislative or administrative action as may be appropriate.

# §6809. Definitions


As used in this subchapter:

- (1) **Federal banking agency—** The term “Federal banking agency” has the same meaning as given in [section 1813 of title 12](/usc/12/1813.md).
- (2) **Federal functional regulator—** The term “Federal functional regulator” means—
  - (A) the [Board](/usc/15/205c.md?p=1) of Governors of the Federal Reserve System;
  - (B) the Office of the Comptroller of the Currency;
  - (C) the [Board](/usc/15/205c.md?p=1) of Directors of the Federal Deposit Insurance Corporation;
  - (D) the Director of the Office of Thrift Supervision;
  - (E) the National [Credit](/usc/15/1679a.md?p=4) Union [Administration](/usc/15/2203.md?p=2) [Board](/usc/15/205c.md?p=1); and
  - (F) the [Securities](/usc/15/78lll.md?p=14) and [Exchange](/usc/15/636.md?p=a-36-A-xvi) [Commission](/usc/15/78c.md?p=a-15).
- (3) **Financial institution—**
  - (A) **In general—** The term “financial institution” means any institution the business of which is engaging in financial activities as described in [section 1843(k) of title 12](/usc/12/1843.md?p=k).
  - (B) **Persons subject to CFTC regulation—** Notwithstanding [subparagraph (A)](#3-A), the term “[financial institution](#3-A)” does not include any [person](/usc/15/78m.md?p=h-8-E) or entity with respect to any financial activity that is subject to the jurisdiction of the Commodity Futures Trading [Commission](/usc/15/78c.md?p=a-15) under the Commodity Exchange Act [[7 U.S.C. 1](/usc/7/1.md) et seq.].
  - (C) **Farm credit institutions—** Notwithstanding [subparagraph (A)](#3-A), the term “[financial institution](#3-A)” does not include the Federal Agricultural Mortgage Corporation or any entity chartered and operating under the Farm Credit Act of 1971 [[12 U.S.C. 2001](/usc/12/2001.md) et seq.].
  - (D) **Other secondary market institutions—** Notwithstanding [subparagraph (A)](#3-A), the term “[financial institution](#3-A)” does not include institutions chartered by Congress specifically to engage in transactions described in [section 6802(e)(1)(C) of this title](/usc/15/6802.md?p=e-1-C), as long as such institutions do not sell or transfer [nonpublic personal information](#4-A) to a [nonaffiliated third party](#5).
- (4) **Nonpublic personal information—**
  - (A) The term “nonpublic personal information” means personally identifiable financial information—
    - (i) provided by a [consumer](#9) to a [financial institution](#3-A);
    - (ii) resulting from any transaction with the [consumer](#9) or any service performed for the [consumer](#9); or
    - (iii) otherwise obtained by the [financial institution](#3-A).
  - (B) Such term does not include publicly available information, as such term is defined by the regulations prescribed under [section 6804 of this title](/usc/15/6804.md).
  - (C) Notwithstanding [subparagraph (B)](#4-B), such term—
    - (i) shall include any list, description, or other grouping of [consumers](#9) (and publicly available information pertaining to them) that is derived using any [nonpublic personal information](#4-A) other than publicly available information; but
    - (ii) shall not include any list, description, or other grouping of [consumers](#9) (and publicly available information pertaining to them) that is derived without using any [nonpublic personal information](#4-A).
- (5) **Nonaffiliated third party—** The term “nonaffiliated third party” means any entity that is not an [affiliate](#6) of, or related by common ownership or affiliated by corporate control with, the [financial institution](#3-A), but does not include a joint employee of such institution.
- (6) **Affiliate—** The term “affiliate” means any company that controls, is controlled by, or is under common control with another company.
- (7) **Necessary to effect, administer, or enforce—** The term “as necessary to effect, administer, or enforce the transaction” means—
  - (A) the disclosure is required, or is a usual, appropriate, or acceptable method, to carry out the transaction or the product or service business of which the transaction is a part, and record or service or maintain the [consumer](#9)’s [account](/usc/15/1681a.md?p=r-4) in the ordinary course of providing the financial service or financial product, or to administer or service benefits or claims relating to the transaction or the product or service business of which it is a part, and includes—
    - (i) providing the [consumer](#9) or the [consumer](#9)’s agent or [broker](/usc/15/6102.md?p=d-2-B-i) with a confirmation, statement, or other record of the transaction, or information on the status or value of the financial service or financial product; and
    - (ii) the accrual or recognition of incentives or bonuses associated with the transaction that are provided by the [financial institution](#3-A) or any other party;
  - (B) the disclosure is required, or is one of the lawful or appropriate methods, to enforce the rights of the [financial institution](#3-A) or of other [persons](/usc/15/78m.md?p=h-8-E) engaged in carrying out the financial transaction, or providing the product or service;
  - (C) the disclosure is required, or is a usual, appropriate, or acceptable method, for insurance underwriting at the [consumer](#9)’s request or for reinsurance purposes, or for any of the following purposes as they relate to a [consumer](#9)’s insurance: [Account](/usc/15/1681a.md?p=r-4) [administration](/usc/15/2203.md?p=2), reporting, investigating, or preventing fraud or material misrepresentation, processing premium payments, processing insurance claims, administering insurance benefits (including utilization review activities), participating in research [projects](/usc/15/2502.md?p=6), or as otherwise required or specifically permitted by Federal or [State](/usc/15/15g.md?p=2) law; or
  - (D) the disclosure is required, or is a usual, appropriate or acceptable method, in connection with—
    - (i) the authorization, settlement, billing, processing, clearing, transferring, reconciling, or collection of amounts charged, debited, or otherwise paid using a debit, [credit](/usc/15/1679a.md?p=4) or other payment card, check, or [account](/usc/15/1681a.md?p=r-4) number, or by other payment means;
    - (ii) the transfer of receivables, [accounts](/usc/15/1681a.md?p=r-4) or interests therein; or
    - (iii) the [audit](/usc/15/7201.md?p=2) of debit, [credit](/usc/15/1679a.md?p=4) or other payment information.
- (8) **State insurance authority—** The term “State insurance authority” means, in the case of any [person](/usc/15/78m.md?p=h-8-E) engaged in providing insurance, the State insurance authority of the [State](/usc/15/15g.md?p=2) in which the [person](/usc/15/78m.md?p=h-8-E) is domiciled.
- (9) **Consumer—** The term “consumer” means an individual who obtains, from a [financial institution](#3-A), financial products or services which are to be used primarily for personal, family, or household purposes, and also means the legal representative of such an individual.
- (10) **Joint agreement—** The term “joint agreement” means a formal written contract pursuant to which two or more [financial institutions](#3-A) jointly offer, endorse, or sponsor a financial product or service, and as may be further defined in the regulations prescribed under [section 6804 of this title](/usc/15/6804.md).
- (11) **Customer relationship—** The term “time of establishing a customer relationship” shall be defined by the regulations prescribed under [section 6804 of this title](/usc/15/6804.md), and shall, in the case of a [financial institution](#3-A) engaged in extending [credit](/usc/15/1679a.md?p=4) directly to [consumers](#9) to finance [purchases](/usc/15/78c–5.md?p=g) of goods or services, mean the time of establishing the [credit](/usc/15/1679a.md?p=4) relationship with the [consumer](#9).

# §6821. Privacy protection for customer information of financial institutions

- (a) **Prohibition on obtaining customer information by false pretenses—** It shall be a [violation](/usc/15/57b–1.md?p=a-7) of this subchapter for any [person](/usc/15/78m.md?p=h-8-E) to obtain or attempt to obtain, or cause to be disclosed or attempt to cause to be disclosed to any [person](/usc/15/78m.md?p=h-8-E), [customer information of a financial institution](/usc/15/6827.md?p=2) relating to another [person](/usc/15/78m.md?p=h-8-E)—
  - (1) by making a false, fictitious, or fraudulent statement or representation to an officer, employee, or agent of a [financial institution](/usc/15/6827.md?p=4-A);
  - (2) by making a false, fictitious, or fraudulent statement or representation to a [customer](/usc/15/6827.md?p=1) of a [financial institution](/usc/15/6827.md?p=4-A); or
  - (3) by providing any [document](/usc/15/6827.md?p=3) to an officer, employee, or agent of a [financial institution](/usc/15/6827.md?p=4-A), knowing that the [document](/usc/15/6827.md?p=3) is forged, counterfeit, lost, or stolen, was fraudulently obtained, or contains a false, fictitious, or fraudulent statement or representation.
- (b) **Prohibition on solicitation of a person to obtain customer information from financial institution under false pretenses—** It shall be a [violation](/usc/15/57b–1.md?p=a-7) of this subchapter to request a [person](/usc/15/78m.md?p=h-8-E) to obtain [customer information of a financial institution](/usc/15/6827.md?p=2), knowing that the [person](/usc/15/78m.md?p=h-8-E) will obtain, or attempt to obtain, the information from the institution in any manner described in [subsection (a)](#a).
- (c) **Nonapplicability to law enforcement agencies—** No provision of this section shall be construed so as to prevent any action by a law enforcement agency, or any officer, employee, or agent of such agency, to obtain [customer information of a financial institution](/usc/15/6827.md?p=2) in connection with the performance of the official duties of the agency.
- (d) **Nonapplicability to financial institutions in certain cases—** No provision of this section shall be construed so as to prevent any [financial institution](/usc/15/6827.md?p=4-A), or any officer, employee, or agent of a [financial institution](/usc/15/6827.md?p=4-A), from obtaining [customer](/usc/15/6827.md?p=1) information of such [financial institution](/usc/15/6827.md?p=4-A) in the course of—
  - (1) testing the [security](/usc/15/78lll.md?p=14) procedures or systems of such institution for maintaining the confidentiality of [customer](/usc/15/6827.md?p=1) information;
  - (2) investigating allegations of misconduct or negligence on the part of any officer, employee, or agent of the [financial institution](/usc/15/6827.md?p=4-A); or
  - (3) recovering [customer](/usc/15/6827.md?p=1) information of the [financial institution](/usc/15/6827.md?p=4-A) which was obtained or received by another [person](/usc/15/78m.md?p=h-8-E) in any manner described in subsection [(a)](#a) or [(b)](#b).
- (e) **Nonapplicability to insurance institutions for investigation of insurance fraud—** No provision of this section shall be construed so as to prevent any insurance institution, or any officer, employee, or agency of an insurance institution, from obtaining information as part of an insurance investigation into criminal activity, fraud, material misrepresentation, or material nondisclosure that is authorized for such institution under [State](/usc/15/15g.md?p=2) law, regulation, interpretation, or [order](/usc/15/8702.md?p=14).
- (f) **Nonapplicability to certain types of customer information of financial institutions—** No provision of this section shall be construed so as to prevent any [person](/usc/15/78m.md?p=h-8-E) from obtaining [customer information of a financial institution](/usc/15/6827.md?p=2) that otherwise is available as a public record filed pursuant to the [securities laws](/usc/15/77z–2.md?p=i-5) (as defined in [section 78c(a)(47) of this title](/usc/15/78c.md?p=a-47)).
- (g) **Nonapplicability to collection of child support judgments—** No provision of this section shall be construed to prevent any [State](/usc/15/15g.md?p=2)-licensed private investigator, or any officer, employee, or agent of such private investigator, from obtaining [customer information of a financial institution](/usc/15/6827.md?p=2), to the extent reasonably necessary to collect child support from a [person](/usc/15/78m.md?p=h-8-E) adjudged to have been delinquent in his or her obligations by a Federal or [State](/usc/15/15g.md?p=2) court, and to the extent that such action by a [State](/usc/15/15g.md?p=2)-licensed private investigator is not unlawful under any other Federal or [State](/usc/15/15g.md?p=2) law or regulation, and has been authorized by an [order](/usc/15/8702.md?p=14) or judgment of a court of competent jurisdiction.

# §6822. Administrative enforcement

- (a) **Enforcement by Federal Trade Commission—** Except as provided in [subsection (b)](#b), compliance with this subchapter shall be enforced by the Federal Trade [Commission](/usc/15/78c.md?p=a-15) in the same manner and with the same power and [authority](/usc/15/3051.md?p=1) as the [Commission](/usc/15/78c.md?p=a-15) has under the Fair Debt Collection Practices Act [[15 U.S.C. 1692](/usc/15/1692.md) et seq.] to enforce compliance with such Act.
- (b) **Enforcement by other agencies in certain cases—**
  - (1) **In general—** Compliance with this subchapter shall be enforced under—
    - (A) section 8 of the Federal Deposit Insurance Act [[12 U.S.C. 1818](/usc/12/1818.md)], in the case of—
      - (i) national banks, and Federal branches and [Federal agencies](/usc/15/3719.md?p=a-3) of foreign banks, by the Office of the Comptroller of the Currency;
      - (ii) member banks of the Federal Reserve System (other than national banks), branches and agencies of foreign banks (other than Federal branches, [Federal agencies](/usc/15/3719.md?p=a-3), and insured [State](/usc/15/15g.md?p=2) branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act [[12 U.S.C. 601](/usc/12/601.md) et seq., 611 et seq.], by the [Board](/usc/15/205c.md?p=1);
      - (iii) banks insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System and national nonmember banks) and insured [State](/usc/15/15g.md?p=2) branches of foreign banks, by the [Board](/usc/15/205c.md?p=1) of Directors of the Federal Deposit Insurance Corporation; and
      - (iv) savings [associations](/usc/15/657h.md?p=a-2) the deposits of which are insured by the Federal Deposit Insurance Corporation, by the Director of the Office of Thrift Supervision; and
    - (B) the Federal [Credit](/usc/15/1679a.md?p=4) Union Act [[12 U.S.C. 1751](/usc/12/1751.md) et seq.], by the [Administrator](/usc/15/9001.md?p=1) of the National [Credit](/usc/15/1679a.md?p=4) Union [Administration](/usc/15/2203.md?p=2) with respect to any Federal [credit](/usc/15/1679a.md?p=4) union.
  - (2) **Violations of this subchapter treated as violations of other laws—** For the purpose of the exercise by any agency referred to in [paragraph (1)](#b-1) of its powers under any Act referred to in that paragraph, a [violation](/usc/15/57b–1.md?p=a-7) of this subchapter shall be deemed to be a [violation](/usc/15/57b–1.md?p=a-7) of a requirement imposed under that Act. In addition to its powers under any provision of law specifically referred to in [paragraph (1)](#b-1), each of the agencies referred to in that paragraph may exercise, for the purpose of enforcing compliance with this subchapter, any other [authority](/usc/15/3051.md?p=1) conferred on such agency by law.

# §6823. Criminal penalty

- (a) **In general—** Whoever knowingly and intentionally violates, or knowingly and intentionally attempts to violate, [section 6821 of this title](/usc/15/6821.md) shall be fined in accordance with [title 18](/usc/18.md) or imprisoned for not more than 5 years, or both.
- (b) **Enhanced penalty for aggravated cases—** Whoever violates, or attempts to violate, [section 6821 of this title](/usc/15/6821.md) while violating another law of the United States or as part of a pattern of any illegal activity involving more than $100,000 in a 12-month period shall be fined twice the amount provided in subsection (b)(3) or (c)(3) (as the case may be) of [section 3571 of title 18](/usc/18/3571.md), imprisoned for not more than 10 years, or both.

# §6824. Relation to State laws

- (a) **In general—** This subchapter shall not be construed as superseding, altering, or affecting the statutes, regulations, [orders](/usc/15/8702.md?p=14), or interpretations in effect in any [State](/usc/15/15g.md?p=2), except to the extent that such statutes, regulations, [orders](/usc/15/8702.md?p=14), or interpretations are inconsistent with the provisions of this subchapter, and then only to the extent of the inconsistency.
- (b) **Greater protection under State law—** For purposes of this section, a [State](/usc/15/15g.md?p=2) statute, regulation, [order](/usc/15/8702.md?p=14), or interpretation is not inconsistent with the provisions of this subchapter if the protection such statute, regulation, [order](/usc/15/8702.md?p=14), or interpretation affords any [person](/usc/15/78m.md?p=h-8-E) is greater than the protection provided under this subchapter as determined by the Federal Trade [Commission](/usc/15/78c.md?p=a-15), after consultation with the agency or [authority](/usc/15/3051.md?p=1) with jurisdiction under [section 6822 of this title](/usc/15/6822.md) of either the [person](/usc/15/78m.md?p=h-8-E) that initiated the complaint or that is the subject of the complaint, on its own motion or upon the petition of any interested party.

# §6825. Agency guidance


In furtherance of the objectives of this subchapter, each Federal banking agency (as defined in [section 1813(z) of title 12](/usc/12/1813.md?p=z)), the National [Credit](/usc/15/1679a.md?p=4) Union [Administration](/usc/15/2203.md?p=2), and the [Securities](/usc/15/78lll.md?p=14) and [Exchange](/usc/15/636.md?p=a-36-A-xvi) [Commission](/usc/15/78c.md?p=a-15) or [self-regulatory organizations](/usc/15/78c.md?p=a-26), as appropriate, shall review regulations and guidelines applicable to [financial institutions](/usc/15/6827.md?p=4-A) under their respective jurisdictions and shall prescribe such revisions to such regulations and guidelines as may be necessary to ensure that such [financial institutions](/usc/15/6827.md?p=4-A) have policies, procedures, and controls in place to prevent the unauthorized disclosure of [customer](/usc/15/6827.md?p=1) financial information and to deter and detect activities proscribed under [section 6821 of this title](/usc/15/6821.md).


# §6826. Reports

- (a) **Report to the Congress—** Before the end of the 18-month period beginning on November 12, 1999, the Comptroller General, in consultation with the Federal Trade [Commission](/usc/15/78c.md?p=a-15), Federal banking agencies, the National [Credit](/usc/15/1679a.md?p=4) Union [Administration](/usc/15/2203.md?p=2), the [Securities](/usc/15/78lll.md?p=14) and [Exchange](/usc/15/636.md?p=a-36-A-xvi) [Commission](/usc/15/78c.md?p=a-15), appropriate Federal law enforcement agencies, and appropriate [State](/usc/15/15g.md?p=2) insurance regulators, shall submit to the Congress a report on the following:
  - (1) The efficacy and adequacy of the remedies provided in this subchapter in addressing attempts to obtain financial information by fraudulent means or by false pretenses.
  - (2) Any recommendations for additional legislative or regulatory action to address threats to the privacy of financial information created by attempts to obtain information by fraudulent means or false pretenses.
- (b) **Annual report by administering agencies—** The Federal Trade [Commission](/usc/15/78c.md?p=a-15) and the Attorney General shall submit to Congress an annual report on number and disposition of all enforcement actions taken pursuant to this subchapter.

# §6827. Definitions


For purposes of this subchapter, the following definitions shall apply:

- (1) **Customer—** The term “customer” means, with respect to a [financial institution](#4-A), any [person](/usc/15/78m.md?p=h-8-E) (or authorized representative of a [person](/usc/15/78m.md?p=h-8-E)) to whom the [financial institution](#4-A) provides a product or service, including that of acting as a fiduciary.
- (2) **Customer information of a financial institution—** The term “customer information of a financial institution” means any information maintained by or for a [financial institution](#4-A) which is derived from the relationship between the [financial institution](#4-A) and a [customer](#1) of the [financial institution](#4-A) and is identified with the [customer](#1).
- (3) **Document—** The term “document” means any information in any form.
- (4) **Financial institution—**
  - (A) **In general—** The term “financial institution” means any institution engaged in the business of providing financial services to [customers](#1) who maintain a [credit](/usc/15/1679a.md?p=4), deposit, trust, or other financial [account](/usc/15/1681a.md?p=r-4) or relationship with the institution.
  - (B) **Certain financial institutions specifically included—** The term “[financial institution](#4-A)” includes any depository institution (as defined in [section 461(b)(1)(A) of title 12](/usc/12/461.md?p=b-1-A)), any [broker or dealer](/usc/15/78c.md?p=h-2), any [investment adviser](/usc/15/6102.md?p=d-2-B-ii) or [investment company](/usc/15/77z–2.md?p=i-2), any insurance company, any loan or finance company, any [credit card](/usc/15/1681a.md?p=r-2) [issuer](/usc/15/636.md?p=a-36-A-xvi) or operator of a [credit card](/usc/15/1681a.md?p=r-2) system, and any [consumer](/usc/15/1615.md?p=d-2) reporting agency that compiles and maintains files on [consumers](/usc/15/1615.md?p=d-2) on a nationwide basis (as defined in [section 1681a(p) of this title](/usc/15/1681a.md?p=p)).
  - (C) **Securities institutions—** For purposes of [subparagraph (B)](#4-B)—
    - (i) the terms “[broker](/usc/15/6102.md?p=d-2-B-i)” and “[dealer](/usc/15/6102.md?p=d-2-B-i)” have the same meanings as given in [section 78c of this title](/usc/15/78c.md);
    - (ii) the term “[investment adviser](/usc/15/6102.md?p=d-2-B-ii)” has the same meaning as given in [section 80b–2(a)(11) of this title](/usc/15/80b–2.md?p=a-11); and
    - (iii) the term “[investment company](/usc/15/77z–2.md?p=i-2)” has the same meaning as given in [section 80a–3 of this title](/usc/15/80a–3.md).
  - (D) **Certain persons and entities specifically excluded—** The term “[financial institution](#4-A)” does not include any [person](/usc/15/78m.md?p=h-8-E) or entity with respect to any financial activity that is subject to the jurisdiction of the Commodity Futures Trading [Commission](/usc/15/78c.md?p=a-15) under the Commodity Exchange Act [[7 U.S.C. 1](/usc/7/1.md) et seq.] and does not include the Federal Agricultural Mortgage Corporation or any entity chartered and operating under the Farm Credit Act of 1971 [[12 U.S.C. 2001](/usc/12/2001.md) et seq.].
  - (E) **Further definition by regulation—** The Federal Trade [Commission](/usc/15/78c.md?p=a-15), after consultation with Federal banking agencies and the [Securities](/usc/15/78lll.md?p=14) and [Exchange](/usc/15/636.md?p=a-36-A-xvi) [Commission](/usc/15/78c.md?p=a-15), may prescribe regulations clarifying or describing the types of institutions which shall be treated as [financial institutions](#4-A) for purposes of this subchapter.