CFPB Seeks Input: Renewing Rules on Sharing Your Financial Privacy Info
Published Date: 3/5/2026
Notice
Summary
The Consumer Financial Protection Bureau wants to keep collecting info about how businesses share your financial privacy details. They’re asking for your thoughts by April 6, 2026, to make sure the rules stay clear and fair. This affects lots of businesses and helps protect your personal info without costing extra money or time.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Businesses keep Reg P reporting burden
Private-sector financial businesses remain subject to the Regulation P information collection under OMB Control Number 3170-0010. The CFPB estimates 462,760 respondents and a total annual burden of 312,916 hours related to initial privacy notices, annual notices, revision notices, and opt-out notices.
Consumer privacy notice and opt-out rules preserved
If you are a consumer of financial institutions, Regulation P implements the Gramm-Leach-Bliley Act rules that generally prohibit sharing your nonpublic personal financial information with nonaffiliated third parties unless the institution provides required notices (initial privacy notices, annual notices, notices of revisions) and you have not elected to opt out. The CFPB is seeking comment on the information collection that supports those notice and opt-out requirements.
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