The Vermont Department of Financial Regulation issued B-2015-02, Privacy of Consumer Financial and Health Information Regulation, December 25, 2015 to replace Regulation B-2001-01. This update/replacement allowed for the use of the Federal Model Privacy Notice, but required certain changes to our standard Privacy Policy Notice when certain “opt-in” responses were received, per Section 7 (G).
Consequently, we will be modifying our generic Privacy Policy Notice (Cx15182) to trigger the new Vermont text in the “Other Important Information” portion of the Notice, a model of which can be found in Section 7 (G)(5)(a). This language will trigger for Vermont loans when the institution answers “Yes” to each of the questions about whether it shares information: (i) “For our affiliates’ everyday business purposes – information about your creditworthiness;” and (ii) “for nonaffiliates to market to you.”
These document changes will take effect immediately. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.
Note: If you have a customized Privacy Policy Notice, do business in Vermont, and would like to incorporate these changes to your customized document, please contact your Account Manager.
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