Two weeks ago we discussed key definitions and substantive requirements, including the basic requirements that a financial institution must fulfill, such as the opt-out opportunity, before it may disclose nonpublic personal information to nonaffiliated third parties. Today we examine key exceptions to these requirements and review other substantive obligations in the Gramm-Leach-Bliley Act's privacy title.

This title includes a number of exceptions to the notice and opt-out requirements, demonstrating Congress' desire to balance consumer privacy against the obvious need of financial institutions to share information in order to operate efficiently and protect themselves from risks posed by customers and others.

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