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We believe that we qualify to use the alternative delivery method for our annual privacy notices. Am I correct that we need to send a statement stuffer to notify customers? – IBA Compliance Connection

We believe that we qualify to use the alternative delivery method for our annual privacy notices. Am I correct that we need to send a statement stuffer to notify customers?

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Yes, you must notify customers about the alternative delivery method at least annually in a statement stuffer or in another required notice. If you meet all of the requirements for the alternative delivery method in 12 CFR 1016.9(c)(2), you also must provide “clear and conspicuous” notice that your privacy notice is available on your website and will be mailed to the customer on request. This notice of the alternative delivery method must be provided at least once a year, on a “statement, coupon book, or a notice or disclosure.” 12 CFR 1016.9(c)(2)(ii)(A).