Title V, Subtitle A of the Gramm-Leach-Bliley Act (“GLBA”) governs the treatment of nonpublic personal information about consumers by financial institutions. Section 502 of the Subtitle, subject to certain exceptions, prohibits a financial institution from disclosing nonpublic personal information about a consumer to nonaffiliated third parties, unless (i) the institution satisfies various notice and opt-out requirements, and (ii) the consumer has not elected to opt out of the disclosure. Section 503 requires the institution to provide notice of its privacy policies and practices to its customers. Section 504 authorizes the issuance of regulations to implement these provisions. Therefore, in compliance with the GLBA, we are providing you with this document, which notifies you of the privacy policies and practices of Title Quest Investments LLC.
Title Quest Investments LLC DOES NOT DISCLOSE NONPUBLIC PERSONAL INFORMATION CONCERNING YOU WITH ANYONE FOR ANY REASON THAT IS NOT SPECIFICALLY PERMITTED BY LAW.
The regulation establishes rules governing duties of a financial institution to provide notices and limitations on its disclosure of nonpublic personal information, as summarized below.
- A financial institution must provide notice of its privacy policies and practices and allow the consumer to opt out of the disclosure of the consumer’s nonpublic personal information to a nonaffiliated third party if the disclosure is outside of the exceptions in sections 13, 14, or 15 of the regulation. If the financial institution provides the consumer’s nonpublic personal information to a nonaffiliated third party under the exception in section 13, it must provide notice of its privacy policies and practices to the consumer.
- We may disclose information about our customers or former customers to the following financial service providers such as companies engaged in banking, consumer finance securities and insurance. Non-financial companies such as envelope stuffers and other fulfillment service providers.
- types of nonaffiliated companies that perform services on our behalf or with whom we have joint marketing agreements
- Under the exception in section 13, the financial institution must also enter into a contractual agreement with the third party that prohibits the third party from disclosing or using the information other than to perform services for the institution or functions on the institution’s behalf, including use under an exception in sections 14 or 15 in the ordinary course of business to carry out those services or functions. If the financial institution complies with these requirements, it is not required to provide an opt out notice.
- Regardless of whether a financial institution shares nonpublic personal information, the institution must provide notice of its privacy policies and practices to its customers.
- A financial institution generally may not disclose consumer account numbers to any nonaffiliated third party for marketing purposes.
- A financial institution must follow redisclosure and reuse limitations on any nonpublic personal information it receives from a nonaffiliated financial institution.