§ 160.14. Exceptions to notice and opt out requirements for processing and servicing transactions.
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/us/cfr/t17/s§ 160.14·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Exceptions for processing and servicing transactions at consumer's request. The requirements for initial notice in § 160.4(a)(2), for the opt out in §§ 160.7 and 160.10, and for initial notice in § 160.13 in connection with service providers and joint marketing, do not apply if you disclose nonpublic personal information as necessary to effect, administer, or enforce a transaction that a consumer requests or authorizes, or in connection with:
(1)Processing or servicing a financial product or service that a consumer requests or authorizes;
(2)Maintaining or servicing the consumer's account with you, or with another entity as part of an extension of credit on behalf of such entity as part of a private label credit card program or other extension of credit on behalf of such entity; or
(3)A proposed or actual securitization, secondary market sale or similar transaction related to a transaction of the consumer.
(b)Necessary to effect, administer or enforce a transaction means that the disclosure is:
(1)Required, or is one of the lawful or appropriate methods, to enforce your rights or the rights of other persons engaged in carrying out the financial transaction or providing the product or service; or
(2)Required, or is a usual, appropriate or acceptable method:
(i)To carry out the transaction or the product or service business of which the transaction is a part, and record, service or maintain the consumer's account in the ordinary course of providing the financial service or financial product;
(ii)To administer or service benefits or claims relating to the transaction or the product or service business of which it is a part;
(iii)To provide a confirmation, statement or other record of the transaction, or information on the status or value of the financial service or financial product to the consumer or the consumer's agent or broker;
(iv)To accrue or recognize incentives or bonuses associated with the transaction that are provided by you or any other party;
(v)In connection with:
(A)The authorization, settlement, billing, processing, clearing, transferring, reconciling or collection of amounts charged, debited or otherwise paid using a debit, credit or other payment card, check or account number, or by other payment means;
(B)The transfer of receivables, accounts or interests therein; or
(C)The audit of debit, credit or other payment information.