cfr_sections
Data license: Public Domain (U.S. Government data) · Data source: Federal Register API & Regulations.gov API
14 rows where agency = "CFTC" and part_number = 162 sorted by section_id
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| section_id ▼ | title_number | title_name | chapter | subchapter | part_number | part_name | subpart | subpart_name | section_number | section_heading | agency | authority | source_citation | amendment_citations | full_text |
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| 17:17:2.0.1.1.27.0.1.1 | 17 | Commodity and Securities Exchanges | I | 162 | PART 162—PROTECTION OF CONSUMER INFORMATION UNDER THE FAIR CREDIT REPORTING ACT | § 162.1 Purpose and scope. | CFTC | (a) Purpose. The purpose of this part is to implement various provisions in the Fair Credit Reporting Act, 15 U.S.C. 1681, et seq. (“FCRA”), which provide certain protections to consumer information. (b) Scope. This part applies to certain consumer information held by the entities listed below. This part shall apply to futures commission merchants, retail foreign exchange dealers, commodity trading advisors, commodity pool operators, introducing brokers, major swap participants and swap dealers, regardless of whether they are required to register with the Commission. This part does not apply to foreign futures commission merchants, foreign retail foreign exchange dealers, commodity trading advisors, commodity pool operators, introducing brokers, major swap participants and swap dealers unless such entity registers with the Commission. Nothing in this part modifies limits or supersedes the requirements set forth in part 160 of this title. (c) Examples. The examples in this part are not exclusive. Compliance with an example, to the extent applicable, constitutes compliance with this part. Examples in a section illustrate only the issue described in the section and do not illustrate any other issue that may arise in this part. | |||||||
| 17:17:2.0.1.1.27.0.1.2 | 17 | Commodity and Securities Exchanges | I | 162 | PART 162—PROTECTION OF CONSUMER INFORMATION UNDER THE FAIR CREDIT REPORTING ACT | § 162.2 Definitions. | CFTC | (a) Affiliate. The term “affiliate” for the purposes of this part means any person that is related by common ownership or common corporate control with a covered affiliate. (b) Clear and conspicuous. The term “clear and conspicuous” means reasonably understandable and designed to call attention to the nature and significance of the information presented in the notice. (c) Common ownership or common corporate control. The term “common ownership or common corporate control” for the purposes of this part means the power to exercise a controlling influence over the management or policies of a company whether through ownership of securities, by contract, or otherwise. Any person who owns beneficially, either directly or through one or more controlled companies, more than 25 percent of the voting securities of any company is presumed to control the company. Any person who does not own more than 25 percent of the voting securities of a company will be presumed not to control the company. (d) Company. The term “company” means any corporation, limited liability company, business trust, general or limited partnership, association, or similar organization. (e) Concise —(1) In general. The term “concise” means a reasonably brief expression or statement. (2) Combination with other required disclosures. A notice required by this part may be concise even if it is combined with other disclosures required or authorized by Federal or state law. (f) Consumer. Except as otherwise provided, the term “consumer” means an individual person. The term consumer does not include market makers, floor brokers, locals, or individual persons whose information is not collected to determine eligibility for personal, family, or household purposes. (g) Consumer information. The term “consumer information” means any record about an individual, whether in paper, electronic, or other form, that is a consumer report or is derived from a consumer report (as defined in section 603(d)(2) of the FCRA). Consumer information also mean… | |||||||
| 17:17:2.0.1.1.27.1.1.1 | 17 | Commodity and Securities Exchanges | I | 162 | PART 162—PROTECTION OF CONSUMER INFORMATION UNDER THE FAIR CREDIT REPORTING ACT | A | Subpart A—Business Affiliate Marketing Rules | § 162.3 Affiliate marketing opt out and exceptions. | CFTC | (a) Initial notice and opt out. A covered affiliate may not use eligibility information about a consumer that the covered affiliate receives from an affiliate with the consumer to make a solicitation for marketing purposes to such consumer unless— (1) It is clearly and conspicuously disclosed to the consumer in writing or if the consumer agrees, electronically, in a concise notice that the person may use shared eligibility information about that consumer received from an affiliate to make solicitations for marketing purposes to such consumer; (2) The consumer is provided a reasonable opportunity and a reasonable and simple method to opt out, or prohibit the covered affiliate from using eligibility information to make solicitations for marketing purposes to the consumer; and (3) The consumer has not opted out. (b) Persons responsible for satisfying the notice requirement. The notice required by this section must be provided: (1) By an affiliate that has or previously had a pre-existing business relationship with a consumer; or (2) As part of a joint notice from two or more members of an affiliated group of companies, provided that at least one of the affiliates on the joint notice has or previously had a pre-existing business relationship with the consumer. (c) Exceptions. These proposed regulations would not apply to the following covered affiliate: (1) A covered affiliate that has a pre-existing business relationship with a consumer; (2) Communications between an employer and employee-consumer (or his or her beneficiary) in connection with an employee benefit plan; (3) A covered affiliate that is currently providing services to the consumer; (4) If the consumer initiated the communication with the covered affiliate by oral, electronic, or written means; (5) If the consumer authorized or requested the covered affiliate's solicitation; or (6) If compliance by a person with these regulations would prevent that person's compliance with state insurance laws pertaining to unfair discrimination. (d)… | |||||
| 17:17:2.0.1.1.27.1.1.2 | 17 | Commodity and Securities Exchanges | I | 162 | PART 162—PROTECTION OF CONSUMER INFORMATION UNDER THE FAIR CREDIT REPORTING ACT | A | Subpart A—Business Affiliate Marketing Rules | § 162.4 Scope and duration of opt out. | CFTC | (a) Scope of opt-out election —(1) In general. The consumer's election to opt out prohibits any covered affiliate subject to the scope of the opt-out notice from using eligibility information received from another affiliate to make solicitations to the consumer. (2) Continuing relationship —(i) In general. If the consumer establishes a continuing relationship with a covered affiliate or its affiliate, an opt-out notice may apply to eligibility information obtained in connection with— (A) A single continuing relationship or multiple continuing relationships that the consumer establishes with a covered affiliate or its affiliates, including continuing relationships established subsequent to delivery of the opt-out notice, so long as the notice adequately describes the continuing relationships covered by the opt out; or (B) Any other transaction between the consumer and the covered affiliate or its affiliates as described in the notice. (ii) Examples of a continuing relationship. A consumer has a continuing relationship with a covered affiliate or its affiliate if: (A) The covered affiliate is a futures commission merchant through whom a consumer has opened an account, or that carries the consumer's account on a fully-disclosed basis, or that effects or engages in commodity interest transactions with or for a consumer, even if the covered affiliate does not hold any assets of the consumer; (B) The covered affiliate is an introducing broker that solicits or accepts specific orders for trades; (C) The covered affiliate is a commodity trading advisor with whom a consumer has a contract or subscription, either written or oral, regardless of whether the advice is standardized, or is based on, or tailored to, the commodity interest or cash market positions or other circumstances or characteristics of the particular consumer; (D) The covered affiliate is a commodity pool operator, and accepts or receives from the consumer, funds, securities, or property for the purpose of purchasing an interest in a commodi… | |||||
| 17:17:2.0.1.1.27.1.1.3 | 17 | Commodity and Securities Exchanges | I | 162 | PART 162—PROTECTION OF CONSUMER INFORMATION UNDER THE FAIR CREDIT REPORTING ACT | A | Subpart A—Business Affiliate Marketing Rules | § 162.5 Contents of opt-out notice; consolidated and equivalent notices. | CFTC | (a) Contents of the opt-out notice —(1) In general. An opt-out notice must be in writing, be clear and conspicuous, as well as concise, and must accurately disclose the following: (i) (A) The name of the affiliate that has or previously had a pre-existing business relationship with a consumer, which is providing the notice; or (B) If jointly provided jointly by multiple affiliates and each affiliate shares a common name, then the notice may indicate that it is being provided by multiple companies with the same name or multiple companies in the same group or family of companies. If the affiliates providing the notice do not share a common name, then the notice must either separately identify each affiliate by name or identify each of the common names used by those affiliates; (ii) The list of affiliates or types of affiliates whose use of eligibility information is covered by the notice, which may include companies that become affiliates after the notice is provided to the consumer; (iii) A general description of the types of eligibility information that may be used to make solicitations to the consumer; (iv) A statement that the consumer may elect to limit the use of eligibility information to make solicitations to the consumer; (v) A statement that the consumer's election will apply for the specified period of time and, if applicable, that the consumer will be allowed to renew the election once that period expires; (vi) If the notice is provided to consumers who have previously elected to opt out, that such consumer does not need to act again until the consumer receives a renewal notice; and (vii) A reasonable and simple method for the consumer to opt out. (2) Specifying length of time period. If consumer is granted an opt-out period longer than a five-year duration, the opt-out notice must specify the length of the opt-out period. (3) No revised notice for extension of opt-out period. The duration of an opt-out period may be increased for a period longer than the period specified in the opt-out… | |||||
| 17:17:2.0.1.1.27.1.1.4 | 17 | Commodity and Securities Exchanges | I | 162 | PART 162—PROTECTION OF CONSUMER INFORMATION UNDER THE FAIR CREDIT REPORTING ACT | A | Subpart A—Business Affiliate Marketing Rules | § 162.6 Reasonable opportunity to opt out. | CFTC | (a) In general. A covered affiliate must not use eligibility information about a consumer that the covered affiliate receives from an affiliate to make a solicitation to such consumer about the covered affiliate's financial products or services, unless the consumer is provided a reasonable opportunity to opt out, as required by this subpart. (b) Examples. A reasonable opportunity to opt out under this subpart is: (1) If the opt-out notice is mailed to the consumer, the consumer has 30 days from the date the notice is mailed to opt out. (2) If the opt-out notice is sent via electronic means to the consumer, the consumer has 30 days from the date the consumer acknowledges receipt to elect to opt out by any reasonable method. (3) If the opt-out notice is sent via e-mail (where the consumer has agreed to receive disclosures by e-mail), the consumer is given 30 days after the e-mail is sent to elect to opt out by any reasonable method. (4) If the opt-out notice provided to the consumer at the time of an electronic transaction, the consumer is required to decide, as a necessary part of proceeding with the transaction, whether to opt out before completing the transaction. (5) If the opt-out notice is provided during an in-person transaction, the consumer is required to decide, as a necessary part of completing the transaction, whether to opt out through a simple process. (6) If the opt-out notice is provided in conjunction with other privacy notices required by law, the consumer is allowed to exercise the opt-out election within a reasonable period of time and in the same manner as the opt out under that privacy notice. | |||||
| 17:17:2.0.1.1.27.1.1.5 | 17 | Commodity and Securities Exchanges | I | 162 | PART 162—PROTECTION OF CONSUMER INFORMATION UNDER THE FAIR CREDIT REPORTING ACT | A | Subpart A—Business Affiliate Marketing Rules | § 162.7 Reasonable and simple methods of opting out. | CFTC | (a) In general. A covered affiliate shall be prohibited from using eligibility information about a consumer received from an affiliate to make a solicitation to the consumer about the covered affiliate's financial products or services, unless the consumer is provided a reasonable and simple method to opt out, as required by this subpart. (b) Examples. Reasonable and simple methods of opting out include: (1) Designating a check-off box in a prominent position on an opt-out election form; (2) Including a reply form and a self-addressed envelope (in a mailing); (3) Providing an electronic means, if the consumer agrees, that can be electronically mailed or processed through an Internet Web site; (4) Providing a toll-free telephone number; or (5) Exercising an opt-out election through whatever means are acceptable under a consolidated privacy notice required under other laws. (c) Specific opt-out method. Each consumer may be required to opt out through a specific method, as long as that method is acceptable under this subpart. | |||||
| 17:17:2.0.1.1.27.1.1.6 | 17 | Commodity and Securities Exchanges | I | 162 | PART 162—PROTECTION OF CONSUMER INFORMATION UNDER THE FAIR CREDIT REPORTING ACT | A | Subpart A—Business Affiliate Marketing Rules | § 162.8 Acceptable delivery methods of opt-out notices. | CFTC | (a) In general. The opt-out notice must be provided so that each consumer can reasonably be expected to receive actual notice. (b) Electronic notices. For opt-out notices provided electronically, the notice may be provided in compliance with either the electronic disclosure provisions in § 1.4 of this title or the provisions in section 101 of the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001 et seq. | |||||
| 17:17:2.0.1.1.27.1.1.7 | 17 | Commodity and Securities Exchanges | I | 162 | PART 162—PROTECTION OF CONSUMER INFORMATION UNDER THE FAIR CREDIT REPORTING ACT | A | Subpart A—Business Affiliate Marketing Rules | § 162.9 Renewal of opt out. | CFTC | (a) Renewal notice and opt-out requirement —(1) In general. Since the FCRA provides that opt-out elections can expire in a period of no less than five years, an affiliate that has or previously had a pre-existing business relationship with a consumer must provide a renewal notice to the consumer after such time in order to allow its affiliates to make solicitations. After the opt-out election period expires, its affiliates may make solicitations unless: (i) The consumer has been given a renewal notice that complies with the requirements of this section and §§ 162.6 through 162.8 of this subpart, and a reasonable opportunity and a reasonable and simple method to renew the opt-out election, and the consumer does not renew the opt out; or (ii) An exception in Sec. 162.3(c) of this subpart applies. (2) Renewal period. Each opt-out renewal must be effective for a period of at least five years as provided in § 162.4(b) of this subpart. (3) Affiliates who may provide the renewal notice. The notice required by this paragraph must be provided: (i) By the affiliate that provided the previous opt-out notice, or its successor; or (ii) As part of a joint renewal notice from two or more members of an affiliated group of companies, or their successors, that jointly provided the previous opt-out notice. (b) Contents of renewal or extension notice. The contents of the renewal notice must include all of the same contents of the initial notices, but also must include: (1) A statement that the consumer previously elected to limit the use of certain information to make solicitations to the consumer; (2) A statement that the consumer may elect to renew the consumer's previous election; and (3) If applicable, a statement that the consumer's election to renew will apply for a specified period of time stated in the notice and that the consumer will be allowed to renew the election once that period expires. (c) Timing of renewal notice. Renewal notices must be provided in a reasonable period of time before the expira… | |||||
| 17:17:2.0.1.1.27.1.1.8 | 17 | Commodity and Securities Exchanges | I | 162 | PART 162—PROTECTION OF CONSUMER INFORMATION UNDER THE FAIR CREDIT REPORTING ACT | A | Subpart A—Business Affiliate Marketing Rules | §§ 162.10-162.20 [Reserved] | CFTC | ||||||
| 17:17:2.0.1.1.27.2.1.1 | 17 | Commodity and Securities Exchanges | I | 162 | PART 162—PROTECTION OF CONSUMER INFORMATION UNDER THE FAIR CREDIT REPORTING ACT | B | Subpart B—Disposal Rules | § 162.21 Proper disposal of consumer information. | CFTC | [66 FR 21252, Apr. 27, 2001, as amended at 89 FR 71820, Sept. 4, 2024] | (a) In general. Any covered affiliate must adopt must adopt reasonable, written policies and procedures that address administrative, technical, and physical safeguards for the protection of consumer information. These written policies and procedures must be reasonably designed to: (1) Ensure the security and confidentiality of consumer information; (2) Protect against any anticipated threats or hazards to the security or integrity of consumer information; and (3) Protect against unauthorized access to or use of consumer information that could result in substantial harm or inconvenience to any consumer. (b) Standard. Any covered affiliate under this part who maintains or otherwise possesses consumer information for a business purpose must properly dispose of such information by taking reasonable measures to protect against unauthorized access to or use of the information in connection with its disposal. (c) Examples. The following examples are “reasonable” disposal measures for the purposes of this subpart— (1) Implementing and monitoring compliance with policies and procedures that require the burning, pulverizing, or shredding of papers containing consumer information so that the information cannot practicably be read or reconstructed; (2) Implementing and monitoring compliance with policies and procedures that require the destruction or erasure of electronic media containing consumer information so that the information cannot practically be read or reconstructed; and (3) After due diligence, entering into and monitoring compliance with a written contract with another party engaged in the business of record destruction to dispose of consumer information in a manner that is consistent with this rule. (d) Relation to other laws. Nothing in this section shall be construed: (1) To require a person to maintain or destroy any record pertaining to a consumer that is imposed under Sec. 1.31 or any other provision of law; or (2) To alter or affect any requirement imposed under any other provision of la… | ||||
| 17:17:2.0.1.1.27.3.1.1 | 17 | Commodity and Securities Exchanges | I | 162 | PART 162—PROTECTION OF CONSUMER INFORMATION UNDER THE FAIR CREDIT REPORTING ACT | C | Subpart C—Identity Theft Red Flags | § 162.30 Duties regarding the detection, prevention, and mitigation of identity theft. | CFTC | (a) Scope of this subpart. This section applies to financial institutions or creditors that are subject to administrative enforcement of the FCRA by the Commission pursuant to Sec. 621(b)(1) of the FCRA, 15 U.S.C. 1681s(b)(1). (b) Special definitions for this subpart. For purposes of this section, and appendix B to this part, the following definitions apply: (1) Account means a continuing relationship established by a person with a financial institution or creditor to obtain a product or service for personal, family, household or business purposes. Account includes an extension of credit, such as the purchase of property or services involving a deferred payment. (2) The term board of directors includes: (i) In the case of a branch or agency of a foreign bank, the managing official in charge of the branch or agency; and (ii) In the case of any other creditor that does not have a board of directors, a designated senior management employee. (3) Covered account means: (i) An account that a financial institution or creditor offers or maintains, primarily for personal, family, or household purposes, that involves or is designed to permit multiple payments or transactions, such as a margin account; and (ii) Any other account that the financial institution or creditor offers or maintains for which there is a reasonably foreseeable risk to customers or to the safety and soundness of the financial institution or creditor from identity theft, including financial, operational, compliance, reputation, or litigation risks. (4) Credit has the same meaning in Sec. 603(r)(5) of the FCRA, 15 U.S.C. 1681a(r)(5). (5) Creditor has the same meaning as in 15 U.S.C. 1681m(e)(4), and includes any futures commission merchant, retail foreign exchange dealer, commodity trading advisor, commodity pool operator, introducing broker, swap dealer, or major swap participant that regularly extends, renews, or continues credit; regularly arranges for the extension, renewal, or continuation of credit; or in acting as an assigne… | |||||
| 17:17:2.0.1.1.27.3.1.2 | 17 | Commodity and Securities Exchanges | I | 162 | PART 162—PROTECTION OF CONSUMER INFORMATION UNDER THE FAIR CREDIT REPORTING ACT | C | Subpart C—Identity Theft Red Flags | § 162.31 [Reserved] | CFTC | ||||||
| 17:17:2.0.1.1.27.3.1.3 | 17 | Commodity and Securities Exchanges | I | 162 | PART 162—PROTECTION OF CONSUMER INFORMATION UNDER THE FAIR CREDIT REPORTING ACT | C | Subpart C—Identity Theft Red Flags | § 162.32 Duties of card issuers regarding changes of address. | CFTC | (a) Scope. This section applies to a person described in § 162.30(a) that issues a debit or credit card (card issuer). (b) Definition of cardholder. For purposes of this section, a cardholder means a consumer who has been issued a credit or debit card. (c) Address validation requirements. A card issuer must establish and implement reasonable policies and procedures to assess the validity of a change of address if it receives notification of a change of address for a consumer's debit or credit card account and, within a short period of time afterwards (during at least the first 30 days after it receives such notification), the card issuer receives a request for an additional or replacement card for the same account. Under these circumstances, the card issuer may not issue an additional or replacement card, until, in accordance with its reasonable policies and procedures and for the purpose of assessing the validity of the change of address, the card issuer: (1)(i) Notifies the cardholder of the request: (A) At the cardholder's former address; or (B) By any other means of communication that the card issuer and the cardholder have previously agreed to use; and (ii) Provides to the cardholder a reasonable means of promptly reporting incorrect address changes; or (2) Otherwise assesses the validity of the change of address in accordance with the policies and procedures the card issuer has established pursuant to § 162.30. (d) Alternative timing of address validation. A card issuer may satisfy the requirements of paragraph (c) of this section if it validates an address pursuant to the methods in paragraph (c)(1) or (c)(2) of this section when it receives an address change notification, before it receives a request for an additional or replacement card. (e) Form of notice. Any written or electronic notice that the card issuer provides under this paragraph must be clear and conspicuous and provided separately from its regular correspondence with the cardholder. |
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CREATE TABLE cfr_sections (
section_id TEXT PRIMARY KEY,
title_number INTEGER,
title_name TEXT,
chapter TEXT,
subchapter TEXT,
part_number TEXT,
part_name TEXT,
subpart TEXT,
subpart_name TEXT,
section_number TEXT,
section_heading TEXT,
agency TEXT,
authority TEXT,
source_citation TEXT,
amendment_citations TEXT,
full_text TEXT
);
CREATE INDEX idx_cfr_title ON cfr_sections(title_number);
CREATE INDEX idx_cfr_part ON cfr_sections(part_number);
CREATE INDEX idx_cfr_agency ON cfr_sections(agency);