source:
  type: regulation
  id: reg-p-1016.1
  authority: 12 CFR §1016.1 — Purpose and scope (Regulation P)
  description: 12 CFR §1016.1 — Purpose and scope.
  coverage_tier: context
obligations:
- id: reg-p-1016.1-full
  canonical_id: reg-p-1016.1-full
  section: 12 CFR §1016.1 — Purpose and scope
  type: reference
  tags:
  - regulator-direct
  - glba-privacy
  - corpus-expansion
  - tier-context
  primary_source:
    tier: 1
    authority: 12 CFR §1016.1 — Purpose and scope (Regulation P)
    source_class: cfpb-regulation
    source_url: https://www.law.cornell.edu/cfr/text/12/1016.1
    snapshot_id: fcb99f4143f04cdc
    fetched_at: '2026-06-17T20:38:42Z'
    content_hash: sha256:e264a49126d0617f65c76a313bc072ca4536f9c310154340538f3bbaf8e4319e
    paragraph_quote: '§ 1016.1 Purpose and scope. (a) Purpose. This part governs the
      treatment of nonpublic personal information about consumers by the financial
      institutions listed in paragraph (b) of this section. This part: (1) Requires
      a financial institution to provide notice to customers about its privacy policies
      and practices; (2) Describes the conditions under which a financial institution
      may disclose nonpublic personal information about consumers to nonaffiliated
      third parties; and (3) Provides a method for consumers to prevent a financial
      institution from disclosing that information to most nonaffiliated third parties
      by “opting out” of that disclosure, subject to the exceptions in §§ 1016.13
      , 1016.14, and 1016.15. (b) Scope. (1) This part applies only to nonpublic personal
      information about individuals who obtain financial products or services primarily
      for personal, family, or household purposes from the institutions listed below.
      This part does not apply to information about companies or about individuals
      who obtain financial products or services for business, commercial, or agricultural
      purposes. This part applies to those financial institutions and other persons
      for which the Bureau of Consumer Financial Protection (Bureau) has rulemaking
      authority pursuant to section 504(a)(1)(A) of the Gramm-Leach-Bliley Act (GLB
      Act) ( 15 U.S.C. 6804(a)(1)(A) ). Specifically, this part applies to any financial
      institution and other covered person or service provider that is subject to
      Subtitle A of Title V of the GLB Act, including third parties that are not financial
      institutions but that receive nonpublic personal information from financial
      institutions with whom they are not affiliated. This part does not apply to
      certain motor vehicle dealers described in 12 U.S.C. 5519 or to entities for
      which the Securities and Exchange Commission or the Commodity Futures Trading
      Commission has rulemaking authority pursuant to sections 504(a)(1)(A)-(B) of
      the GLB Act ( 15 U.S.C. 6804(a)(1)(A) -(B)). Except as otherwise specifically
      provided herein, entities to which this part applies are referred to in this
      part as “you.” (2) (i) Nothing in this part modifies, limits, or supersedes
      the standards governing individually identifiable health information promulgated
      by the Secretary of Health and Human Services under the authority of sections
      262 and 264 of the Health Insurance Portability and Accountability Act of 1996
      ( 42 U.S.C. 1320d - 1320d - 8 ). (ii) Any institution of higher education that
      complies with the Federal Educational Rights and Privacy Act (FERPA), 20 U.S.C.
      1232g , and its implementing regulations, 34 CFR part 99 , and that is also
      a financial institution described in § 1016.3(l)(3) of this part, shall be deemed
      to be in compliance with this part if it is in compliance with FERPA. (3) Nothing
      in this part shall apply to: (i) A financial institution that is a person described
      in section 1029(a) of the Consumer Financial Protection Act of 2010 , title
      X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank
      Act), Public Law 111-203 , 124 Stat. 1376 ( 12 U.S.C. 5519(a) ); (ii) A financial
      institution or other person subject to the jurisdiction on the Commodity Futures
      Trading Commission under 7 U.S.C. 7b-2 ; (iii) A broker or dealer that is registered
      under the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq.; ) (iv) A
      registered investment adviser, properly registered by or on behalf of either
      the Securities Exchange Commission or any state, with respect to its investment
      advisory activities and its activities incidental to those investment advisory
      activities; (v) An investment company that is registered under the Investment
      Company Act of 1940 ( 15 U.S.C. 80a-1 et seq.; ) or (vi) An insurance company
      , with respect to its insurance activities and its activities incidental to
      those insurance activities, that is subject to supervision by a state insurance
      regulator. [ 76 FR 79028 , Dec. 21, 2011, as amended at 79 FR 64081 , Oct. 28,
      2014]'
  judgment: false
