Monday, April 24, 2006 - Federal Agencies Release Report on Improving Privacy Notices

Responding to survey results that indicated many consumers do not read or understand the privacy notices required by the regulations issued in 2000 under the Gramm-Leach-Bliley Act, the Agencies conducted a year-long study of alternatives to the current privacy disclosures. The initial findings of the study have resulted in the development of prototype forms intended to better explain a consumer’s privacy rights. The prototypes utilize tables to organize and simplify the information for consumers.

The second phase of the study will be conducted with a larger group of consumers on a nationwide scale. The Agencies will consider action on revising the privacy disclosure requirements once the second stage of the research is completed.