|(a) Purpose. This subchapter governs the treatment of nonpublic
personal financial information about individuals by all covered entities.
(1) requires a covered entity to provide notice to individuals
about its privacy policies and practices;
(2) describes the conditions under which a covered entity may
disclose nonpublic personal financial information about individuals to nonaffiliated
third parties; and
(3) provides methods for individuals to prevent a covered entity
from disclosing that information to nonaffiliated third parties.
(b) Scope. This subchapter applies to nonpublic personal financial
information about individuals who obtain or are claimants or beneficiaries,
primarily for personal, family or household purposes, of products or services
from covered entities. This subchapter does not apply to information about
companies or about individuals who obtain products or services for business,
commercial or agricultural purposes.