Ill. Admin. Code tit. 50, § 4002.150 - Other Exceptions to Notice and Opt Out Requirements for Disclosure of Nonpublic Personal Financial Information
a) Exceptions to opt out requirements. The
requirements for initial notice to consumers in Section
4002.40(a)(2)
of this Part, the opt out in Sections
4002.70
and
4002.100
of this Part, and service providers and joint marketing in Section
4002.130
of this Part do not apply when a licensee discloses nonpublic personal
financial information:
1) With the consent or
at the direction of the consumer, provided that the consumer has not revoked
the consent or direction pursuant to Section
4002.70(i)
of this Part;
2) To protect the
confidentiality or security of a licensee's records pertaining to the consumer,
service, product or transaction;
3)
To protect against or prevent actual or potential fraud or unauthorized
transactions;
4) For required
institutional risk control or for resolving consumer disputes or
inquiries;
5) To persons holding a
legal or beneficial interest relating to the consumer;
6) To persons acting in a fiduciary or
representative capacity on behalf of the consumer;
7) To provide information to insurance rate
advisory organizations, guaranty funds or agencies, agencies that are rating a
licensee, persons that are assessing the licensee's compliance with industry
standards, and the licensee's attorneys, accountants and auditors;
8) To the extent specifically permitted or
required under other provisions of law and in accordance with the federal Right
to Financial Privacy Act of 1978 (
12
USC 3401 et seq.), to law enforcement
agencies (including the Federal Reserve Board, Office of the Comptroller of the
Currency, Federal Deposit Insurance Corporation, Office of Thrift Supervision,
National Credit Union Administration, the Securities and Exchange Commission,
the Secretary of the Treasury, with respect to Records and Reports on Monetary
Instruments and Transactions (31 USC Chapter 53, Subchapter II) and Financial
Recordkeeping (12 USC Chapter 21), a state insurance authority, and the Federal
Trade Commission), self-regulatory organizations or for an investigation on a
matter related to public safety;
9)
To a consumer reporting agency in accordance with the federal Fair Credit
Reporting Act (
15 USC
1681 et seq.) or from a consumer report
reported by a consumer reporting agency;
10) In connection with a proposed or actual
sale, merger, transfer or exchange of all or a portion of a business or
operating unit if the disclosure of nonpublic personal financial information
concerns solely consumers of the business or unit;
11) To comply with federal, State or local
laws, rules and other applicable legal requirements;
12) To comply with a properly authorized
civil, criminal or regulatory investigation, or subpoena or summons by federal,
State or local authorities;
13) To
respond to judicial process or government regulatory authorities having
jurisdiction over a licensee for examination, compliance or other purposes as
authorized by law; or
14) For
purposes related to the replacement of a group benefit plan, a group health
plan, or a group welfare plan.
b) The notice requirements of this Part may
be waived by the Director when a company is in liquidation or receivership
pursuant to Article XIII of the Code [215 ILCS 5 /Art. XIII].
Notes
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