A bank may engage in voluntary self-testing and self-correction of its compliance with Regulation B. If the bank takes any appropriate corrective action, the reports, results, analysis, opinions, and conclusions of the self-test will be protected by a privilege. The privilege will be lost if
The privilege protecting the reports, results, analysis, opinions, and conclusions of a bank's voluntary self-test of compliance with Regulation B will be lost if the information is voluntarily disclosed to the government or the public, or is used in any manner as a defense to a discrimination charge. Disclosure in these contexts waives the privilege because it exposes the information to external parties or utilizes it in a defensive manner, thereby nullifying the confidentiality intended by the privilege.
C. The privilege will be lost if the information is voluntarily disclosed to the government or the public or is used in any manner as a defense to a discrimination charge. This option accurately reflects the circumstances under which the privilege protecting the reports, results, analysis, opinions, and conclusions of a voluntary self-test of compliance with Regulation B may be lost. If the information is disclosed voluntarily to the government, the public, or used in any way as a defense to a discrimination charge, the privilege protecting the self-test results may be waived.