Can I share personal information about my customers with third parties in Louisiana? What are the requirements?

Based on the documents provided, you cannot share personal information about your customers with third parties in Louisiana unless you meet certain requirements.

Requirements for Disclosure of Nonpublic Personal Financial Information to Nonaffiliated Third Parties

According to 37 LAAC Part XIII Chapter 99 Section 9923, a licensee may not disclose any nonpublic personal financial information about a consumer to a nonaffiliated third party unless:

1. The licensee has provided to the consumer an initial notice as required under §9911;
2. The licensee has provided to the consumer an opt-out notice as required in §9917;
3. The licensee has given the consumer a reasonable opportunity, before it discloses the information to the nonaffiliated third party, to opt out of the disclosure; and
4. The consumer does not opt out.

Exceptions to Notice and Opt Out Requirements for Disclosure of Nonpublic Personal Financial Information

There are some exceptions to the notice and opt-out requirements for disclosure of nonpublic personal financial information. For example, a licensee may disclose nonpublic personal financial information without providing an opt-out notice if the disclosure is necessary to effect, administer or enforce a transaction that a consumer requests or authorizes, or in connection with servicing or processing an insurance product or service that a consumer requests or authorizes [37 LAAC Part XIII Chapter 99 Section 9931].

Dissemination of Specific Credit Information

LARS § 9.3571 states that financial records of customers can only be disclosed by a savings bank, a savings and loan association, a company issuing credit cards, or a business offering credit pursuant to R.S. 6:333.

Prohibition on Disclosure and Use of Personal Information from Department Records

According to 55 LAAC Part III Chapter 5 Section 555, no records of the department containing personal information, nor the personal information contained in those records shall be disclosed by the department or any officer, employee, agent or contractor to any person except as provided in Subchapter B.

Therefore, you can only share personal information about your customers with third parties in Louisiana if you meet the requirements outlined in 37 LAAC Part XIII Chapter 99 Section 9923 or if an exception applies. Additionally, you must follow the procedure for requesting personal information outlined in 55 LAAC Part III Chapter 5 Section 557 if you need to obtain personal information from the Department of Public Safety and Corrections.

Annual Privacy Notice to Customers Required According to 37 LAAC Part XIII Chapter 99 Section 9913, a licensee shall provide a clear and conspicuous notice to customers that accurately reflects its privacy policies and practices not less than annually during the continuation of the customer relationship.

Limits on Re-Disclosure and Reuse of Nonpublic Personal Financial Information According to 37 LAAC Part XIII Chapter 99 Section 9925, if a licensee receives nonpublic personal financial information from a nonaffiliated financial institution, the licensee’s disclosure and use of that information is limited.

Please note that this is not an exhaustive list of all the requirements and exceptions related to sharing personal information with third parties in Louisiana. It is recommended that you consult with a legal professional for specific advice on your situation.

Jurisdiction

Louisiana

• Privacy