BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
WASHINGTON, D.C. 20551
DIVISION OF CONSUMER
AND COMMUNITY AFFAIRS
CA 01-5
May 24, 2001
TO THE OFFICERS AND MANAGERS IN CHARGE OF CONSUMER AFFAIRS SECTIONS:
SUBJECT: Regulation P Examination Procedures
Enclosed for release are the recently approved Regulation P Examination Procedures. Regulation P limits the instances in which a financial institution may share nonpublic personal information about its consumers, unless it provides certain notices and the opportunity to opt out of the disclosure. The Regulation became effective November 13, 2000, and compliance is required as of July 1, 2001.
Please distribute the enclosed procedures to your examination staff for immediate use. Additionally, please send or make these procedures available to the state member banks and holding companies within your district. If you have any questions regarding this matter, please contact your district review examiner or Jill Lohr Chase at (202)785-6054 or Anthony Iwuji at (202)452-3254.
Sincerely,
(signed)
Shawn McNulty
Assistant Director