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Can you summarize MORS 362.422?
Banks and Trust Companies > Disclosure of nonpublic personal information by financial institutions prohibited, rules, notice.
Short Summary
This legal document prohibits the disclosure of nonpublic personal information by financial institutions to nonaffiliated third parties, in accordance with Title V of the Gramm-Leach-Bliley Financial Modernization Act of 1999 (15 U.S.C. 6801 to 6809). State agencies with regulatory authority over financial institutions subject to this Act may adopt rules and regulations to enforce this prohibition. Financial institutions are required to provide an initial notice regarding their privacy policy to new customers at the time the customer relationship is established, and to existing customers before June 30, 2002. The disclosure of nonpublic personal information to nonaffiliated third parties is prohibited until the financial institution has made the required disclosure. This document was enacted through the merger of House Bill 801 and Senate Bill 382, effective from July 1, 2001.
Whom does it apply to?
Financial institutions
What does it govern?
Disclosure of nonpublic personal information by financial institutions
What are exemptions?
None mentioned
What are the Penalties?
Not specified
Jurisdiction
Missouri