📜Federal Reserve Privacy Act Updates
Privacy Act of 1974; System of Records
Summary
Pursuant to the provisions of the Privacy Act of 1974, notice is given that the Board of Governors of the Federal Reserve System (Board) proposes to modify an existing system of records entitled BGFRS/OIG-1, "FRB--OIG Investigative Records." These records are collected and maintained by the Office of Inspector General (OIG) in support of its inquiries, investigations, and reports relating to the programs and operations of the Board and the Consumer Financial Protection Bureau and to manage its investigations.
Agencies
- Federal Reserve System
Business Impact
$$ - Med
The regulatory changes impact compliance and data handling practices for businesses involved with the Federal Reserve and CFPB. The new record-keeping, retention policies, and sharing protocols could require businesses to adjust their data privacy practices and understand potential investigations.