Comment on CFPB-2011-0039-0001

Regulation P of the Board of Governors of the Federal Reserve System governs the treatment of nonpublic personal information about consumers and requires that multitudes of companies prepare and mail annual notices. While protecting an individual’s right to privacy is a worthy endeavor that should be protected and encouraged; the sending of annual privacy notices is a waste of time, effort and money. Most consumers receive dozens of these notices each year and simply toss them in the trash. This is a unnecessary expense that simply increases the cost of doing business and ends up costing consumers more in the long run. A greater service would be rendered if those who violate another’s privacy are prosecuted and fined or jailed.