GLBA 502(b)(1): Sec. 502(b)(1) (15 U.S.C. 6802(b)(1)) Opt-out before disclosure to nonaffiliated third parties

Before nonpublic personal information is disclosed to a nonaffiliated third party the institution clearly and conspicuously discloses to the consumer, in writing, electronic form or another form the section 504 regulations permit, that the information may be disclosed to such a third party, gives the consumer the opportunity before the initial disclosure to direct that it not be disclosed, and explains how the consumer can exercise that option.