Delaware Privacy of Consumer Financial and Health Information, Other Exceptions to Notice and Opt Out Requirements for Disclosure of Nonpublic Personal Financial Information (18 Del. Admin. Code 904-11.0)

Outlines exceptions to privacy notice and opt-out requirements for specified disclosures, including fraud prevention, legal compliance, and operational needs, subject to regulatory enforcement.

Status: Passed State: Delaware Tags: Privacy

About the Legislation:

The requirements for notice and opt-out requirements to consumers do not apply when a licensee discloses nonpublic personal financial information with the consent or at the direction of the consumer, provided that the consumer has not revoked the consent or direction; to protect the confidentiality or security of a licensee’s records pertaining to the consumer, service, product or transaction; to protect against or prevent actual or potential fraud or unauthorized transactions; for required institutional risk control or for resolving consumer disputes or inquiries; to persons holding a legal or beneficial interest relating to the consumer; to persons acting in a fiduciary or representative capacity on behalf of the consumer; 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; 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, to law enforcement agencies, a state insurance authority, and the Federal Trade Commission, self-regulatory organizations or for an investigation on a matter related to public safety; to a consumer reporting agency in accordance with the federal Fair Credit Reporting Act; from a consumer report reported by a consumer reporting agency; 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; to comply with federal, state or local laws, rules and other applicable legal requirements; to comply with a properly authorized civil, criminal or regulatory investigation, or subpoena or summons by federal, state or local authorities; to respond to judicial process or government regulatory authorities having jurisdiction over a licensee for examination, compliance or other purposes as authorized by law; for purposes related to the replacement of a group benefit plan, a group health plan, a group welfare plan or a workers’ compensation plan; and when the licensee is in liquidation or receivership.

Private Right of Action: No.
Damages/Enforcement: Subject to administrative enforcement by the DE Insurance Commissioner.

Read the Legislation

State Association Contact

Josephine Bahn, Member

Aaron Krauss, Member

Any updates or new legislation should be sent to fraud@aba.com.

Delaware Privacy of Consumer Financial and Health Information, Other Exceptions to Notice and Opt Out Requirements for Disclosure of Nonpublic Personal Financial Information (18 Del. Admin. Code 904-11.0)

About the Legislation:

State Association Contact

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