a. Although use of the model
forms is not required, use of the model forms in this appendix (as
applicable) complies with the requirement in section 624 of the Act
for clear, conspicuous, and concise notices.
b.
Certain changes may be made to the language or format of the model
forms without losing the protection from liability afforded by use
of the model forms. These changes may not be so extensive as to affect
the substance, clarity, or meaningful sequence of the language in
the model forms. Persons making such extensive revisions will lose
the safe harbor that this appendix provides. Acceptable changes include,
for example:
1.
Rearranging the order of the references to “your income,” “your
account history,” and “your credit score.”
2.
Substituting
other types of information for “income,” “account history,” or “credit
score” for accuracy, such as “payment history,” “credit history,”
“payoff status,” or “claims history.”
3.
Substituting
a clearer and more accurate description of the affiliates providing
or covered by the notice for phrases such as “the [ABC] group of companies,”
including without limitation a statement that the entity providing
the notice recently purchased the consumer’s account.
4.
Substituting
other types of affiliates covered by the notice for “credit card,”
“insurance,” or “securities” affiliates.
5.
Omitting items that are not accurate or applicable. For
example, if a person does not limit the duration of the opt-out period, the
notice may omit information about the renewal notice.
6.
Adding
a statement informing consumers how much time they have to opt out
before shared eligibility information may be used to make solicitations
to them.
7.
Adding a statement that the consumer may exercise the right to opt
out at any time.
8.
Adding
the following statement, if accurate: “If you previously opted out,
you do not need to do so again.”
9.
Providing
a place on the form for the consumer to fill in identifying information,
such as his or her name and address.
10.
Adding disclosures regarding the treatment of opt-outs by joint
consumers to comply with section 1022.23(a)(2) of this part.
-
Model Form for Initial
Opt-out Notice (Single-Affiliate Notice)
-
Model Form for Initial Opt-out
Notice (Joint Notice)
-
Model Form for Renewal
Notice (Single-Affiliate Notice)
-
Model Form for Renewal Notice
(Joint Notice)
-
Model Form for Voluntary
“No Marketing” Notice
