FTC Proposes Gramm-Leach-Bliley Rule Amendment to Allow Online Privacy Notices From Auto Dealers That Finance Purchases
The Federal Trade Commission has proposed an amendment to its rules under the Gramm-Leach-Bliley Act to allow auto dealers that finance car purchases or provide car leases to provide online updates to consumers about their privacy policies as opposed to sending yearly updates by mail.
The amendments also include clarifications to the language of the rule to reflect the Commission’s authority under the Gramm-Leach-Bliley Act.
The FTC will publish a full description of the changes in the Federal Register shortly. The proposed changes will be subject to public comment for 60 days, beginning today and continuing through Aug. 31, 2015, after which the Commission will decide whether to make the proposed changes final. Interested parties can submit comments electronically.
The Commission vote to publish the proposed rule changes was 5-0.
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