How often must banks provide customers with a privacy notice under GLBA?

Under the Gramm-Leach-Bliley Act (GLBA), banks are required to provide customers with a privacy notice annually. This requirement ensures that customers are informed about the bank's information-sharing practices and their privacy rights. The annual notice gives customers an opportunity to understand how their personal information is used, shared, and protected.

Receiving the privacy notice every year helps maintain transparency and trust between customers and financial institutions, allowing customers to make informed choices regarding their privacy and the handling of their information. It is important for banks to adhere to this timeline to ensure compliance with federal regulations and to keep customers adequately informed about their privacy rights.