12 CFR Part 1016 — Regulation P (Privacy of Consumer Financial Information, CFPB) § 1016.12 — Limits on sharing account number information for marketing purposes
12 CFR Part 1016 — Regulation P (Privacy of Consumer Financial Information, CFPB), §1016.12 Limits on sharing account number information for marketing purposes. Captured section-complete (all subsections verbatim).
Verbatim regulatory text
Verbatim provisions from 12 CFR Part 1016 — Regulation P (Privacy of Consumer Financial Information, CFPB) § 1016.12 — Limits on sharing account number information for marketing purposes — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
12 CFR §1016.12(a)
(a) General prohibition on disclosure of account numbers. You must not, directly or through an affiliate, disclose, other than to a consumer reporting agency, an account number or similar form of access number or access code for a consumer's credit card account, deposit account, share account, or transaction account to any nonaffiliated third party for use in telemarketing, direct mail marketing, or other marketing through electronic mail to the consumer.
12 CFR §1016.12(b)
(b) Exceptions. Paragraph (a) of this section does not apply if you disclose an account number or similar form of access number or access code: (1) To your agent or service provider solely in order to perform marketing for your own products or services, as long as the agent or service provider is not authorized to directly initiate charges to the account; or (2) To a participant in a private label credit card program or an affinity or similar program where the participants in the program are identified to the customer when the customer enters into the program.
12 CFR §1016.12(c)
(c) Examples —(1) Account number. An account number, or similar form of access number or access code, does not include a number or code in an encrypted form, as long as you do not provide the recipient with a means to decode the number or code. (2) Transaction account. A transaction account is an account other than a deposit account, a share account, or a credit card account. A transaction account does not include an account to which third parties cannot initiate charges.
Operationalizing 12 CFR Part 1016 — Regulation P (Privacy of Consumer Financial Information, CFPB) § 1016.12 — Limits on sharing account number information for marketing purposes
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Source of record: https://claudeforcompliance.com/regs/reg-p-1016-12/
· register reg-p-1016-12 · Claude for Compliance. Free to read and download;
see regulatory updates and methodology.