The Art of Islamic Banking and Finance: Tools and Techniques for Community-Based Banking

Bankruptcy Laws^14
One important and often abused privilege of U.S. citizens and businesses is
the ability of the person or entity that obtained a credit facility to stand

&Copies of privacy notices (initial, annual, revised, opt-out, short-

form, and simplified).

&List of affiliates and nonaffiliated third parties to whom the bank

discloses nonpublic personal information about consumers, cus-

tomers, and former customers:

&Outside of the regulatory exceptions (Sections 13, 14, and 15);

and

&Under Section 13, including joint marketing agreements

&Describe how the bank ensures that nonpublic personal informa-

tion received from nonaffiliated financial institutions is reused

and redisclosed according to regulatory requirements, and de-

scribe such sharing activities.

&Any records supporting the bank’s categorization of its informa-

tion sharing practices under Sections 13, 14, and 15, and outside

the regulatory exceptions, if available.

&Information sharing agreements and contracts between the bank

and its affiliates and between the bank and non-affiliated third

parties.

&A list of consumers who have opted out of the disclosure of non-

public personal information to nonaffiliated third parties.

&Consumer and customer complaints regarding the treatment of

nonpublic personal information.

&Nonaffiliated third-party complaint logs, telemarketing scripts,

and any other information obtained from nonaffiliated third par-

ties, if available.

&Compliance and audit work papers related to privacy.

&Training program information and materials.

RIGHT TO FINANCIAL PRIVACY ACT

&Policies and procedures on the Act.

&Requests for customers’ financial records received from federal

government authorities since the last examination.

The Conventional Riba-Based Banking System 187