It means a direction by the consumer that the financial institution not discloses nonpublic personal information about the consumer to a non-affiliated third party, except as permitted by the regulation. What is it?
It means a direction by the consumer that the financial institution not discloses nonpublic personal information about the consumer to a non-affiliated third party, except as permitted by the regulation. What is it?
Opt-out refers to a consumer's direction to a financial institution not to disclose their nonpublic personal information to non-affiliated third parties, except as allowed by regulation. This mechanism provides consumers with control over their personal data.
The correct answer is A. Opt-out. This term refers to a consumer's choice to instruct a financial institution not to share their nonpublic personal information with non-affiliated third parties, except as allowed under the applicable regulations. The opt-out mechanism is a key provision in privacy regulations, enabling consumers to have control over their personal information.