044-54 Wyo. Code R. §§ 54-14 - Exception to Opt-Out Requirements for Disclosure of Nonpublic Personal Financial Information for Service Providers and Joint Marketing

(a) The opt-out requirements in sections 7 and 11 do not apply when a licensee provides nonpublic personal financial information to a nonaffiliated third party to perform services for the licensee or functions on the licensee's behalf, if the licensee:

(i) Provides the initial notice in accordance with section 4; and

(ii) Enters into a contractual agreement with the third party prohibiting the third party from disclosing or using the information other than to carry out the purposes for which the licensee disclosed the information, including use under an exception in the ordinary course of business to carry out those purposes.

(b) If a licensee discloses nonpublic personal financial information under this section to a financial institution with which the licensee performs joint marketing, the licensee's contractual agreement with that institution meets the requirements of section 14(a)(ii) if it prohibits the institution from disclosing or using the nonpublic personal financial information except as necessary to carry out the joint marketing or under an exception in the ordinary course of business to carry out that joint marketing.

(c) The services a nonaffiliated third party performs for a licensee under section 14(a) may include marketing the licensee's own products or services or marketing financial products or services offered pursuant to joint agreements between the licensee and one or more financial institutions.

(d) "Joint agreement" means a written contract pursuant to which a licensee and one or more financial institutions jointly offer, endorse, or sponsor a financial product or service.

Notes

044-54 Wyo. Code R. §§ 54-14

Amended, Eff. 4/25/2023.