Letter to Credit Unions Confirms Changes to Annual Privacy Notice Requirements
NCUA has issued Letter to Credit Unions 16-CU-03, which confirms that federally-insured credit unions no longer need to send an annual privacy notice to their members if they qualify for the newly-enacted statutory exemption. The exemption applies to credit unions that have not changed their privacy policies or practices since the member was last provided with a privacy notice and that do not share nonpublic personal information with nonaffiliated third parties. [1/26/16]