Vermont Regulator Proposes Updated Privacy Regulation Posted by AVCU on 3:18 PM

In 2015 congress made changes to the Gramm Leach Bliley Act (“GLBA”) in order to exempt certain institutions from providing an annual privacy notice if certain conditions are met.

Vermont's financial regulator, the Department of Financial Regulation (DFR) is now proposing revisions to its Vermont Privacy Regulation to align the Vermont regulation with the 2015 GLBA changes.  The Vermont regulation is applicable to all credit unions, whether state or federally chartered.

DFR is circulating its proposed revisions for review by affected parties before the formal rule-making process begins.  Interested parties are asked to submit thoughts and comments to DFR by August 18, 2017.

View a red-line version of the proposed changes to Vermont's privacy law online.