BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
WASHINGTON, D.C. 20551
DIVISION OF CONSUMER
AND COMMUNITY AFFAIRS
CA 03-11
October 3, 2003
TO THE OFFICERS AND MANAGERS IN CHARGE OF CONSUMER AFFAIRS SECTION:
SUBJECT: Children's Online Privacy Protection Act (COPPA) Examination Procedures
Attached are the Children's Online Privacy Protection Act (COPPA) examination procedures and checklist. COPPA addresses the collection, use, or disclosure of personal information about children that is collected from children through websites or other online services. The Act aims to safeguard the privacy of children's personal information. On November 3, 1999, the Federal Trade Commission (FTC) issued a regulation (16 CFR 312), which implements COPPA. The regulation became effective on April 21, 2000.
Financial Institutions are subject to COPPA if they operate a website(s) or online service(s) (or portion) thereof) directed to children, or have actual knowledge that they are collecting or maintaining personal information from a child online.
Please distribute the enclosed procedures to your examination staff for immediate use. If you have any questions regarding this matter, please contact the review examiner assigned to your district or Jill Lohr Chase at (202)785-6054.
Sincerely,
(signed)
Shawn McNulty
Associate Director