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RULE §22.19Other Exceptions to Notice and Opt Out Requirements for Disclosure of Nonpublic Personal Financial Information

(a) The requirements for initial notice to consumers in §22.8(a)(2) of this title (relating to Initial Privacy Notice), the opt out in §22.11 of this title (relating to Form of Opt Out Notice to Consumers and Opt Out Methods) and §22.14 of this title (relating to Limits on Disclosure of Nonpublic Personal Financial Information to Nonaffiliated Third Parties), and service providers and joint marketing in §22.17 of this title (relating to Exception to Opt Out Requirements for Disclosure of Nonpublic Personal Financial Information for Service Providers and Joint Marketing) do not apply when a covered entity discloses nonpublic personal financial information:

  (1) with the consent or at the direction of the consumer, provided that the consumer has not revoked the consent or direction;

  (2) to protect the confidentiality or security of a covered entity's records pertaining to the consumer, service, product or transaction;

  (3) to protect against or prevent actual or potential fraud or unauthorized transactions;

  (4) for required institutional risk control or for resolving consumer disputes or inquiries;

  (5) to persons holding a legal or beneficial interest relating to the consumer;

  (6) to persons acting in a fiduciary or representative capacity on behalf of the consumer;

  (7) to provide information to insurance rate advisory organizations, guaranty funds or agencies, agencies that are rating a covered entity, persons that are assessing the covered entity's compliance with industry standards, and the covered entity's attorneys, accountants and auditors;

  (8) to the extent specifically permitted or required under other provisions of law and in accordance with the federal Right to Financial Privacy Act of 1978 (12 U.S.C. 3401 et seq.), to law enforcement agencies (including the Federal Reserve Board, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, Office of Thrift Supervision, National Credit Union Administration, the Securities and Exchange Commission, the Secretary of the Treasury, with respect to 31 U.S.C. Chapter 53, Subchapter II (Records and Reports on Monetary Instruments and Transactions) and 12 U.S.C. Chapter 21 (Financial Recordkeeping), a state insurance authority, and the Federal Trade Commission), self-regulatory organizations or for an investigation on a matter related to public safety;

  (9) to a consumer reporting agency in accordance with the federal Fair Credit Reporting Act (15 U.S.C. 1681 et seq.); or from a consumer report reported by a consumer reporting agency;

  (10) in connection with a proposed or actual sale, merger, transfer or exchange of all or a portion of a business or operating unit if the disclosure of nonpublic personal financial information concerns solely consumers of the business or unit;

  (11) to comply with federal, state or local laws, rules and other applicable legal requirements;

  (12) to comply with a properly authorized civil, criminal or regulatory investigation, or subpoena or summons by federal, state or local authorities;

  (13) to respond to judicial process or government regulatory authorities having jurisdiction over a covered entity for examination, compliance or other purposes as authorized by law; or

  (14) for purposes related to the replacement of a group benefit plan, a group health plan, a group welfare plan or a workers' compensation policy.

(b) A consumer may revoke consent by subsequently exercising the right to opt out of future disclosures of nonpublic personal financial information as permitted under §22.11(f) of this title.

Source Note: The provisions of this §22.19 adopted to be effective December 17, 2001, 26 TexReg 10316

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