source:
  type: regulation
  id: reg-v-1022.23
  authority: 12 CFR §1022.23 — Contents of opt-out notice; consolidated and equivalent
    notices (Regulation V)
  description: 12 CFR §1022.23 — Contents of opt-out notice; consolidated and equivalent
    notices.
  coverage_tier: operative
obligations:
- id: reg-v-1022.23-full
  canonical_id: reg-v-1022.23-full
  section: 12 CFR §1022.23 — Contents of opt-out notice; consolidated and equivalent
    notices
  type: do
  tags:
  - regulator-direct
  - fcra
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: 12 CFR §1022.23 — Contents of opt-out notice; consolidated and equivalent
      notices (Regulation V)
    source_class: cfpb-regulation
    source_url: https://www.law.cornell.edu/cfr/text/12/1022.23
    snapshot_id: bba6abcd21565eda
    fetched_at: '2026-06-17T19:30:42Z'
    content_hash: sha256:7ea4c20bc9297910c742a93f013963b6e8465acf01303f13fee9cf8f652d3960
    paragraph_quote: '§ 1022.23 Contents of opt-out notice; consolidated and equivalent
      notices. (a) Contents of opt-out notice —(1) In general. A notice must be clear,
      conspicuous, and concise , and must accurately disclose: (i) The name of the
      affiliate(s) providing the notice. If the notice is provided jointly by multiple
      affiliates and each affiliate shares a common name, such as “ABC,” then the
      notice may indicate that it is being provided by multiple companies with the
      ABC name or multiple companies in the ABC group or family of companies, for
      example, by stating that the notice is provided by “all of the ABC companies,”
      “the ABC banking, credit card, insurance, and securities companies,” or by listing
      the name of each affiliate providing the notice. But if the affiliates providing
      the joint notice do not all share a common name, then the notice must either
      separately identify each affiliate by name or identify each of the common names
      used by those affiliates, for example, by stating that the notice is provided
      by “all of the ABC and XYZ companies” or by “the ABC banking and credit card
      companies and the XYZ insurance companies;” (ii) A list of the affiliates or
      types of affiliates whose use of eligibility information is covered by the notice,
      which may include companies that become affiliates after the notice is provided
      to the consumer . If each affiliate covered by the notice shares a common name,
      such as “ABC,” then the notice may indicate that it applies to multiple companies
      with the ABC name or multiple companies in the ABC group or family of companies,
      for example, by stating that the notice is provided by “all of the ABC companies,”
      “the ABC banking, credit card, insurance, and securities companies,” or by listing
      the name of each affiliate providing the notice. But if the affiliates covered
      by the notice do not all share a common name, then the notice must either separately
      identify each covered affiliate by name or identify each of the common names
      used by those affiliates, for example, by stating that the notice applies to
      “all of the ABC and XYZ companies” or to “the ABC banking and credit card companies
      and the XYZ insurance companies;” (iii) A general description of the types of
      eligibility information that may be used to make solicitations to the consumer
      ; (iv) That the consumer may elect to limit the use of eligibility information
      to make solicitations to the consumer ; (v) That the consumer ''s election will
      apply for the specified period of time stated in the notice and, if applicable,
      that the consumer will be allowed to renew the election once that period expires;
      (vi) If the notice is provided to consumers who may have previously opted out,
      such as if a notice is provided to consumers annually, that the consumer who
      has chosen to limit solicitations does not need to act again until the consumer
      receives a renewal notice; and (vii) A reasonable and simple method for the
      consumer to opt out. (2) Joint relationships. (i) If two or more consumers jointly
      obtain a product or service, a single opt-out notice may be provided to the
      joint consumers . Any of the joint consumers may exercise the right to opt out.
      (ii) The opt-out notice must explain how an opt-out direction by a joint consumer
      will be treated. An opt-out direction by a joint consumer may be treated as
      applying to all of the associated joint consumers, or each joint consumer may
      be permitted to opt out separately. If each joint consumer is permitted to opt
      out separately, one of the joint consumers must be permitted to opt out on behalf
      of all of the joint consumers and the joint consumers must be permitted to exercise
      their separate rights to opt out in a single response. (iii) It is impermissible
      to require all joint consumers to opt out before implementing any opt-out direction.
      (3) Alternative contents. If the consumer is afforded a broader right to opt
      out of receiving marketing than is required by this subpart, the requirements
      of this section may be satisfied by providing the consumer with a clear, conspicuous,
      and concise notice that accurately discloses the consumer ''s opt-out rights.
      (4) Model notices. Model notices are provided in appendix C of this part. (b)
      Coordinated and consolidated notices. A notice required by this subpart may
      be coordinated and consolidated with any other notice or disclosure required
      to be issued under any other provision of law by the entity providing the notice,
      including but not limited to the notice described in section 603(d)(2)(A)(iii)
      of the Act and the Gramm-Leach-Bliley Act privacy notice. (c) Equivalent notices.
      A notice or other disclosure that is equivalent to the notice required by this
      subpart, and that is provided to a consumer together with disclosures required
      by any other provision of law, satisfies the requirements of this section. Gramm-Leach-Bliley
      Act'
  judgment: false
