12 CFR Part 715 (1-1-16 ED)

National Credit Union Administration

§ 715.2

sued as the owner of the leased property. You must use an insurance company with a nationally recognized industry rating of at least a B + .
(b) Your member must carry the normal liability and property insurance on
the leased property. You must be
named as an additional insured on the
liability insurance policy and as the
loss payee on the property insurance
policy.
§ 714.8 Are the early payment provisions, or interest rate provisions,
applicable in leasing arrangements?
You are not subject to the early payment
provisions
set
forth
in
§ 701.21(c)(6) of this chapter. You are
also not subject to the interest rate
provisions in § 701.21(c)(7).
§ 714.9 Are indirect leasing arrangements subject to the purchase of eligible obligation limit set forth in
§ 701.23 of this chapter?
Your indirect leasing arrangements
are not subject to the eligible obligation limit if they satisfy the provisions
of § 701.23(b)(3)(iv) that require that you
make the final underwriting decision
and that the lease contract is assigned
to you very soon after it is signed by
the member and the dealer or leasing
company.

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§ 714.10 What other laws must you
comply with when engaged in leasing?
You must comply with the Consumer
Leasing Act, 15 U.S.C. 1667–67f, and its
implementing regulation, Regulation
M, 12 CFR part 1013. You must comply
with state laws on consumer leasing,
but only to the extent that the state
leasing laws are consistent with the
Consumer Leasing Act, 15 U.S.C. 1667e,
or provide the member with greater
protections or benefits than the Consumer Leasing Act. You are also subject to the lending rules set forth in
§ 701.21 of this chapter, except as provided in § 714.8 and § 714.9 of this part.
The lending rules in § 701.21 address the
preemption of other state and federal
laws that impact on credit transactions.
[65 FR 34585, May 31, 2000, as amended at 77
FR 71085, Nov. 29, 2012]

PART 715—SUPERVISORY
MITTEE
AUDITS
VERIFICATIONS

Sec.
715.1 Scope of this part.
715.2 Definitions used in this part.
715.3 General responsibilities of the Supervisory Committee.
715.4 Audit responsibility of the Supervisory Committee.
715.5 Audit of Federal Credit Unions.
715.6 Audit of Federally-insured State-chartered credit unions.
715.7 Supervisory Committee audit alternatives to a financial statement audit.
715.8 Requirements for verification of accounts and passbooks.
715.9 Assistance from outside, compensated
person.
715.10 Audit report and working paper
maintenance and access.
715.11 Sanctions for failure to comply with
this part.
715.12 Statutory audit remedies for Federal
credit unions.
AUTHORITY:
1782(a)(6).

12

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1761(b),

1761d,

SOURCE: 64 FR 41035, July 29, 1999, unless
otherwise noted.

§ 715.1 Scope of this part.
This
part
implements
section
202(a)(6)(D) of the Federal Credit Union
Act, 12 U.S.C. 1782(a)(6)(D), as added by
section 201(a) of the Credit Union Membership Access Act, Pub. L. No. 105–219,
112 Stat. 918 (1998). This part prescribes
the responsibilities of the Supervisory
Committee to obtain an annual audit
of the credit union according to its
charter type and asset size, and to conduct a verification of members’ accounts.
§ 715.2 Definitions used in this part.
As used in this part:
(a) Balance sheet audit refers to the
examination of a credit union’s assets,
liabilities, and equity under generally
accepted auditing standards (GAAS) by
an independent public accountant for
the purpose of opining on the fairness
of the presentation on the balance
sheet. Credit unions required to file
call reports consistent with GAAP
should ensure the audited balance
sheet is likewise prepared on a GAAP
basis. The opinion under this type of
engagement would not address the fairness of the presentation of the credit

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§ 715.2

12 CFR Ch. VII (1–1–16 Edition)

union’s income statement, statement
of changes in equity (including comprehensive income), or statement of
cash flows.
(b) Compensated person refers to any
accounting/auditing professional, excluding a credit union employee, who is
compensated for performing more than
one supervisory committee audit and/
or verification of members’ accounts
per calendar year.
(c) Financial statements refers to a
presentation of financial data, including accompanying notes, derived from
accounting records of the credit union,
and intended to disclose a credit
union’s economic resources or obligations at a point in time, or the changes
therein for a period of time, in conformity with GAAP, as defined herein,
or regulatory accounting procedures.
Each of the following is considered to
be a financial statement: a balance
sheet or statement of financial condition; statement of income or statement
of operations; statement of undivided
earnings; statement of cash flows;
statement of changes in members’ equity; statement of revenue and expenses; and statement of cash receipts
and disbursements.
(d) Financial statement audit (also
known as an ‘‘opinion audit’’) refers to
an audit of the financial statements of
a credit union performed in accordance
with GAAS by an independent person
who is licensed by the appropriate
State or jurisdiction. The objective of
a financial statement audit is to express an opinion as to whether those financial statements of the credit union
present fairly, in all material respects,
the financial position and the results of
its operations and its cash flows in conformity with GAAP, as defined herein,
or regulatory accounting practices.
(e) GAAP is an acronym for ‘‘generally accepted accounting principles’’
which refers to the conventions, rules,
and procedures which define accepted
accounting practice. GAAP includes
both broad general guidelines and detailed practices and procedures, provides a standard by which to measure
financial statement presentations, and
encompasses not only accounting principles and practices but also the methods of applying them.

(f) GAAS is an acronym for ‘‘generally accepted auditing standards’’
which refers to the standards approved
and adopted by the American Institute
of Certified Public Accountants which
apply when an ‘‘independent, licensed
certified public accountant’’ audits financial statements. Auditing standards
differ from auditing procedures in that
‘‘procedures’’ address acts to be performed, whereas ‘‘standards’’ measure
the quality of the performance of those
acts and the objectives to be achieved
by use of the procedures undertaken. In
addition, auditing standards address
the auditor’s professional qualifications as well as the judgment exercised
in performing the audit and in preparing the report of the audit.
(g) Independent means the impartiality necessary for the dependability
of the compensated auditor’s findings.
Independence requires the exercise of
fairness toward credit union officials,
members, creditors and others who
may rely upon the report of a supervisory committee audit report.
(h) Internal control refers to the process, established by the credit union’s
board of directors, officers and employees, designed to provide reasonable assurance of reliable financial reporting
and safeguarding of assets against unauthorized acquisition, use, or disposition. A credit union’s internal control
structure consists of five components:
control environment; risk assessment;
control activities; information and
communication; and monitoring. Reliable financial reporting refers to preparation of Call Reports (NCUA Forms
5300 and 5310) that meet management’s
financial reporting objectives. Internal
control over safeguarding of assets
against unauthorized acquisition, use,
or disposition refers to prevention or
timely detection of transactions involving such unauthorized access, use,
or disposition of assets which could result in a loss that is material to the financial statements.
(i) Reportable conditions refers to a
matter coming to the attention of the
independent,
compensated
auditor
which, in his or her judgment, represents a significant deficiency in the
design or operation of the internal control structure of the credit union,
which could adversely affect its ability

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National Credit Union Administration

§ 715.3

to record, process, summarize, and report financial data consistent with the
representations of management in the
financial statements.
(j) Report on Examination of Internal
Control over Call Reporting refers to an
engagement in which an independent,
licensed, certified public accountant or
public accountant, consistent with attestation standards, examines and reports on management’s written assertions concerning the effectiveness of
its internal control over financial reporting in its most recently filed semiannual or year-end Call Report, with a
concentration in high risk areas. For
credit unions, such high risk areas
most often include: lending activity;
investing activity; and cash handling
and deposit-taking activity.
(k) State-licensed person refers to a
certified public accountant or public
accountant who is licensed by the
State or jurisdiction where the credit
union is principally located to perform
accounting or auditing services for
that credit union.
(l) Supervisory committee refers to a
supervisory committee as defined in
Section 111(b) of the Federal Credit
Union Act, 12 U.S.C. 1761(b). For some
federally-insured state chartered credit
unions, the ‘‘audit committee’’ designated by state statute or regulation
is the equivalent of a supervisory committee.
(m) Supervisory committee audit refers
to an engagement under either § 715.5
or § 715.6 of this part.
(n) Working papers refers to the principal record, in any form, of the work
performed by the auditor and/or supervisory committee to support its findings and/or conclusions concerning significant matters. Examples include the
written record of procedures applied,
tests performed, information obtained,
and pertinent conclusions reached in
the engagement, proprietary audit programs, analyses, memoranda, letters of
confirmation and representation, abstracts of credit union documents, reviewer’s notes, if retained, and schedules or commentaries prepared or obtained in the course of the engagement.

§ 715.3 General responsibilities of the
Supervisory Committee.

[64 FR 41035, July 29, 1999, as amended at 66
FR 65624, Dec. 20, 2001]

[64 FR 41035, July 29, 1999, as amended at 69
FR 27828, May 17, 2004]

(a) Basic. The supervisory committee
is responsible for ensuring that the
board of directors and management of
the credit union—
(1) Meet required financial reporting
objectives and
(2) Establish practices and procedures
sufficient to safeguard members’ assets.
(b) Specific. To carry out the responsibilities set forth in paragraph (a) of
this section, the supervisory committee must determine whether:
(1) Internal controls are established
and effectively maintained to achieve
the credit union’s financial reporting
objectives which must be sufficient to
satisfy the requirements of the supervisory committee audit, verification of
members’ accounts and its additional
responsibilities;
(2) The credit union’s accounting
records and financial reports are
promptly prepared and accurately reflect operations and results;
(3) The relevant plans, policies, and
control procedures established by the
board of directors are properly administered; and
(4) Policies and control procedures
are sufficient to safeguard against
error, conflict of interest, self-dealing
and fraud.
(c) Mandates. In carrying out the responsibilities set forth in paragraphs
(a) and (b) of this section, the Supervisory Committee must:
(1) Ensure that the credit union adheres to the measurement and filing requirements for reports filed with the
NCUA Board under § 741.6 of this chapter;
(2) Perform or obtain a supervisory
committee audit, as prescribed in
§ 715.4 of this part;
(3) Verify or cause the verification of
members’ passbooks and accounts
against the records of the credit union,
as prescribed in § 715.8 of this part;
(4) Act to avoid imposition of sanctions for failure to comply with the requirements of this part, as prescribed
in §§ 715.11 and 715.12 of this part.

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§ 715.4
§ 715.4 Audit responsibility of the Supervisory Committee.
(a) Annual audit requirement. A federally-insured credit union is required to
obtain an annual supervisory committee audit which occurs at least once
every calendar year (period of performance) and must cover the period
elapsed since the last audit period (period effectively covered).
(b) Financial statement audit option.
Any federally-insured credit union,
whether Federally- or State-chartered
and regardless of asset size, may
choose to fulfill its Supervisory Committee audit responsibility by obtaining an annual audit of its financial
statements performed in accordance
with GAAS by an independent person
who is licensed to do so by the State or
jurisdiction in which the credit union

is principally located. (A ‘‘financial
statement audit’’ is distinct from a
‘‘supervisory committee audit,’’ although a financial statement audit is
included among the options for fulfilling the supervisory committee audit
requirement. Compare § 715.2(c) and (j).)
(c) Other audit options. A federally insured credit union which does not
choose to obtain a financial statement
audit as permitted by subsection (b)
must fulfill its supervisory audit responsibility under either of § 715.5 or
§ 715.6 of this part, whichever is applicable. See Table 1. For purposes of this
part, a credit union’s asset size is the
amount of total assets reported in the
year-end Call Report (NCUA form 5300)
filed for the calendar year-end immediately preceding the period under
audit.

1 The Supervisory Committee audit responsibility under part 715 can always be fulfilled
by obtaining a financial statement audit.
§ 715.4(b).

million or greater, except as provided
in § 703.106(b)(3) of this chapter, must
obtain an annual audit of its financial
statements performed in accordance
with Generally Accepted Auditing
Standards by an independent person
who is licensed to do so by the State or
jurisdiction in which the credit union
is principally located.

§ 715.5

Audit of Federal Credit Unions.

(a) Total assets of $500 million or greater. To fulfill its Supervisory Committee audit responsibility, a Federal
credit union having total assets of $500

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12 CFR Ch. VII (1–1–16 Edition)

National Credit Union Administration

§ 715.8

(b) Total assets of less than $500 million
but more than $10 million. To fulfill its
Supervisory Committee audit responsibility, a Federally-chartered credit
union having total assets of less than
$500 million but more than $10 million
which does not choose to obtain an
audit under § 715.5(a), must obtain an
annual supervisory committee audit as
prescribed in § 715.7.
(c) Total assets of $10 million or less. To
fulfill its Supervisory Committee audit
responsibility, a Federally-chartered
credit union having total assets of $10
million or less must obtain an annual
Supervisory Committee audit as prescribed in § 715.7.
(d) Other requirements. A federally
chartered credit union, regardless of
which audit it is required to obtain
under this section, must meet other applicable requirements of this part.
[64 FR 41035, July 29, 1999, as amended at 75
FR 34621, June 18, 2010; 79 FR 5247, Jan. 31,
2014]

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§ 715.6 Audit
of
Federally-insured
State-chartered credit unions.
(a) Total assets of $500 million or greater. To fulfill its Supervisory Committee audit responsibility, a federally-insured
State-chartered
credit
union having total assets of $500 million or greater must obtain an annual
audit of its financial statements performed in accordance with GAAS by an
independent person who is licensed to
do so by the State or jurisdiction in
which the credit union is principally
located.
(b) Total assets of less than $500 million.
To fulfill its Supervisory Committee
audit responsibility, a federally-insured State-chartered credit union having total assets of less than $500 million must obtain either an annual supervisory committee audit as prescribed under either § 715.6(a) or § 715.7,
or an audit as prescribed by the State
or jurisdiction in which the credit
union is principally located, whichever
audit is more stringent.
(c) Other requirements. A federally-insured, state-chartered credit union, regardless of which audit it is required to
obtain under this section, must meet
other applicable requirements of this
part except §§ 715.5 and 715.12.

§ 715.7 Supervisory Committee audit
alternatives to a financial statement audit.
A credit union which is not required
to obtain a financial statement audit
may fulfill its supervisory committee
responsibility by any one of the following engagements:
(a) Balance sheet audit. A balance
sheet audit, as defined in § 715.2(a), performed by a person who is licensed to
do so by the State or jurisdiction in
which the credit union is principally
located; or
(b) Report on Examination of Internal
Control over Call Reporting. An engagement and report on management’s
written assertions concerning the effectiveness of internal control over financial reporting in the credit union’s
most recently filed semiannual or
year-end call report (NCUA Form 5300),
as defined in § 715.2(j), performed by a
person who is licensed to do so by the
State or jurisdiction in which the credit union is principally located, and in
which management specifies the criteria on which it based its evaluation
of internal control; or
(c) Audit per Supervisory Committee
Guide. An audit performed by the supervisory committee, its internal auditor, or any other qualified person (such
as a certified public accountant, public
accountant, league auditor, credit
union auditor consultant, retired financial institutions examiner, etc.) in
accordance with the procedures prescribed in NCUA’s Supervisory Committee Guide. Qualified persons who are
not State-licensed cannot provide assurance services under this subsection.
§ 715.8 Requirements for verification
of accounts and passbooks.
(a) Verification obligation. The Supervisory Committee shall, at least once
every two years, cause the passbooks
(including any book, statements of account, or other record approved by the
NCUA Board) and accounts of the
members to be verified against the
records of the treasurer of the credit
union.
(b) Methods. Any of the following
methods may be used to verify members’ passbooks and accounts, as appropriate:

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§ 715.9

12 CFR Ch. VII (1–1–16 Edition)

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(1) Controlled verification. A controlled
verification of 100 percent of members’
share and loan accounts;
(2) Statistical method. A sampling
method which provides for:
(i) Random selection:
(ii) A sample which is representative
of the population from which it was selected;
(iii) An equal chance of selecting
each dollar in the population;
(iv) Sufficient accounts in both number and scope on which to base conclusions concerning management’s financial reporting objectives; and
(v) Additional procedures to be performed if evidence provided by confirmations alone is not sufficient.
(3) Non-statistical method. When the
verification is performed by an Independent person licensed by the State or
jurisdiction in which the credit union
is principally located, the auditor may
choose among the sampling methods
set forth in paragraphs (b)(1) and (2) of
this section and non-statistical sampling methods consistent with GAAS if
such methods provide for:
(i) Sufficient accounts in both number and scope on which to base conclusions concerning management’s financial reporting objectives to provide assurance that the General Ledger accounts are fairly stated in relation to
the financial statements taken as a
whole;
(ii) Additional procedures to be performed by the auditor if evidence provided by confirmations alone is not sufficient; and
(iii) Documentation of the sampling
procedures used and of their consistency with GAAS (to be provided to the
NCUA Board upon request).
(c) Retention of records. The supervisory committee must retain the
records of each verification of members’ passbooks and accounts until it
completes the next verification of
members’ passbooks and accounts.
§ 715.9 Assistance from outside, compensated person.
(a) Unrelated to officials. A compensated auditor who performs a Supervisory Committee audit on behalf of
a credit union shall not be related by
blood or marriage to any management
employee, member of either the board

of directors, the Supervisory Committee or the credit committee, or loan
officer of that credit union.
(b) Engagement letter. The engagement of a compensated auditor to perform all or a portion of the scope of a
financial statement audit or supervisory committee audit shall be evidenced by an engagement letter. In all
cases, the engagement must be contracted directly with the Supervisory
Committee. The engagement letter
must be signed by the compensated
auditor and acknowledged therein by
the Supervisory Committee prior to
commencement of the engagement.
(c) Contents of letter. The engagement
letter shall:
(1) Specify the terms, conditions, and
objectives of the engagement;
(2) Identify the basis of accounting to
be used;
(3) If a Supervisory Committee Guide
audit, include an appendix setting
forth the procedures to be performed;
(4) Specify the rate of, or total, compensation to be paid for the audit;
(5) Provide that the auditor shall,
upon completion of the engagement,
deliver to the Supervisory Committee
a written report of the audit and notice
in writing, either within the report or
communicated separately, of any internal control reportable conditions and/
or irregularities or illegal acts, if any,
which come to the auditor’s attention
during the normal course of the audit
(i.e., no notice required if none noted);
(6) Specify a target date of delivery
of the written reports, such target date
not to exceed 120 days from date of calendar or fiscal year-end under audit
(period covered), unless the supervisory
committee obtains a waiver from the
supervising NCUA Regional Director;
(7) Certify that NCUA staff and/or the
State credit union supervisor, or designated representatives of each, will be
provided unconditional access to the
complete set of original working papers, either at the offices of the credit
union or at a mutually agreed upon location, for purposes of inspection; and
(8) Acknowledge that working papers
shall be retained for a minimum of
three years from the date of the written audit report.
(d) Complete scope. If the engagement
is to perform a Supervisory Committee

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National Credit Union Administration

§ 715.12

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Guide audit intended to fully meet the
requirements of § 715.7(c), the engagement letter shall certify that the audit
will address the complete scope of that
engagement;
(e) Exclusions from scope. If the engagement is to perform a Supervisory
Committee Guide audit which will exclude any item required by the applicable section, the engagement letter
shall:
(1) Identify the excluded items;
(2) State that, because of the exclusion(s), the resulting audit will not, by
itself, fulfill the scope of a supervisory
committee audit; and
(3) Caution that the supervisory committee will remain responsible for fulfilling the scope of a supervisory committee audit with respect to the excluded items.
§ 715.10 Audit report and working
paper maintenance and access.
(a) Audit report. Upon completion and/
or receipt of the written report of a financial statement audit or a supervisory committee audit, the Supervisory Committee must verify that the
audit was performed and reported in
accordance with the terms of the engagement letter prescribed herein. The
Supervisory Committee must submit
the report(s) to the board of directors,
and provide a summary of the results
of the audit to the members of the
credit union orally or in writing at the
next annual meeting of the credit
union. If a member so requests, the Supervisory Committee shall provide the
member access to the full audit report.
If the National Credit Union Administration (‘‘NCUA’’) so requests, the Supervisory Committee shall provide
NCUA a copy of each of the audit reports it receives or produces.
(b) Working papers. The supervisory
committee shall be responsible for preparing and maintaining, or making
available, a complete set of original
working papers supporting each supervisory committee audit. The supervisory committee shall, upon request,
provide NCUA staff unconditional access to such working papers, either at
the offices of the credit union or at a
mutually agreeable location, for purposes of inspecting such working papers.

§ 715.11 Sanctions for failure to comply with this part.
(a) Sanctions. Failure of a supervisory
committee and/or its independent compensated auditor or other person to
comply with the requirements of this
section, or the terms of an engagement
letter required by this section, is
grounds for:
(1) The regional director to reject the
supervisory committee audit and provide a reasonable opportunity to correct deficiencies;
(2) The regional director to impose
the remedies available in § 715.12, provided any of the conditions specified
therein is present; and
(3) The NCUA Board to seek formal
administrative sanctions against the
supervisory committee and/or its independent, compensated auditor pursuant
to section 206(r) of the Federal Credit
Union Act, 12 U.S.C. 1786(r).
(b) State Charters. In the case of a federally-insured state chartered credit
union, NCUA shall provide the state
regulator an opportunity to timely impose a remedy satisfactory to NCUA
before exercising it authority under
§ 741.202 of this chapter to impose a
sanction permitted under paragraph (a)
of this section.
§ 715.12 Statutory audit remedies for
Federal credit unions.
(a) Audit by alternative licensed person.
The NCUA Board may compel a federal
credit union to obtain a supervisory
committee audit which meets the minimum requirements of § 715.5 or § 715.7,
and which is performed by an independent person who is licensed by the
State or jurisdiction in which the credit union is principally located, for any
fiscal year in which any of the following three conditions is present:
(1) The Supervisory Committee has
not obtained an annual financial statement audit or performed a supervisory
committee audit; or
(2) The Supervisory Committee has
obtained a financial statement audit or
performed a supervisory committee
audit which does not meet the requirements of part 715 including those in
§ 715.8.
(3) The credit union has experienced
serious and persistent recordkeeping

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Pt. 716

12 CFR Ch. VII (1–1–16 Edition)

deficiencies as defined in paragraph (c)
of this section.
(b) Financial statement audit required.
The NCUA Board may compel a federal
credit union to obtain a financial
statement audit performed in accordance with GAAS by an independent
person who is licensed by the State or
jurisdiction in which the credit union
is principally located (even if such
audit is not required by § 715.5), for any
fiscal year in which the credit union
has experienced serious and persistent
recordkeeping deficiencies as defined in
paragraph (c) of this section. The objective of a financial statement audit
performed under this paragraph is to
reconstruct the records of the credit
union sufficient to allow an unqualified
or, if necessary, a qualified opinion on
the credit union’s financial statements.
An adverse opinion or disclaimer of
opinion should be the exception rather
than the norm.
(c) ‘‘Serious and persistent recordkeeping deficiencies.’’ A record-keeping
deficiency is ‘‘serious’’ if the NCUA
Board reasonably believes that the
board of directors and management of
the credit union have not timely met
financial reporting objectives and established practices and procedures sufficient to safeguard members’ assets. A
serious recordkeeping deficiency is
‘‘persistent’’ when it continues beyond
a usual, expected or reasonable period
of time.

PART 716—PRIVACY OF CONSUMER FINANCIAL INFORMATION
AUTHORITY: 15 U.S.C. 6801 et seq., 12 U.S.C.
1751 et seq.
SOURCE: 78 FR 32545, May 31, 2013, unless
otherwise noted.

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§ 716.1

PART 717—FAIR CREDIT REPORTING
Subpart A—General Provisions
Sec.
717.1
717.2
717.3

Purpose, scope, and effective dates.
Examples.
Definitions.

Subpart B [Reserved]
Subpart C—Affiliate Marketing
717.20 Coverage and definitions.
717.21 Affiliate marketing opt-out and exceptions.
717.22 Scope and duration of opt-out.
717.23 Contents of opt-out notice; consolidated and equivalent notices.
717.24 Reasonable opportunity to opt out.
717.25 Reasonable and simple methods of
opting out.
717.26 Delivery of opt-out notices.
717.27 Renewal of opt-out.
717.28 Effective date, compliance date, and
prospective application.

Subpart D—Medical Information
717.30 Obtaining or using medical information in connection with a determination
of eligibility for credit.
717.31 Limits on redisclosure of information.
717.32 Sharing medical information with affiliates.

Subpart E—Duties of Furnishers of
Information
717.40 Scope.
717.41 Definitions.
717.42 Reasonable policies and procedures
concerning the accuracy and integrity of
furnished information.
717.43 Direct disputes.

Subparts F–H [Reserved]
Subpart Subpart I—Duties of Users of Consumer Reports Regarding Address Discrepancies and Records Disposal
717.80–717.81 [Reserved]
717.82 Duties of users regarding address discrepancies.
717.83 Disposal of consumer information.

Cross reference.

The rules formerly at 12 CFR part 716
have been republished by the Consumer
Financial Protection Bureau at 12 CFR
part 1016, ‘‘Privacy of Consumer Financial Information (Regulation P)’’.

Subpart J—Identity Theft Red Flags
717.90 Duties regarding the detection, prevention, and mitigation of identity theft.
717.91 Duties of card issuers regarding
changes of address.
APPENDIXES A–B TO PART 717 [RESERVED]
APPENDIX C TO PART 717—MODEL FORMS FOR
OPT-OUT NOTICES

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