Which of these organizations would be required to provide its customers with an annual privacy notice?
Which of these organizations would be required to provide its customers with an annual privacy notice?
The King County Savings and Loan would be required to provide its customers with an annual privacy notice. Financial institutions, such as savings and loan associations, are required by the Gramm-Leach-Bliley Act (GLBA) to provide annual privacy notices to their customers, informing them of their privacy practices and policies.
Banks must provide an annual privacy notice
GLBA and Privacy Notices The GLBA Privacy Rule establishes a standard for privacy notices under which a financial institution must provide “initial and ANNUAL privacy notices” to consumers on nine categories of information and must process opt-outs within 30 days.