Posted by garrettsutton on August 03, 2004 at 10:14:30:
Tom: I am assuming that by the term ‘investors’ you are referring to you and a group that are going to purchase real estate. If that is the case then the above two rules do not apply in that your situation is a private investment matter. Generally, the rules apply to third parties that provide credit to individuals. That is not what you and your investors are doing. I hope this helps, Garrett
Privacy Act and Safeguards Rule - Posted by Tom (Roch-NY)
Posted by Tom (Roch-NY) on July 30, 2004 at 20:39:12:
I’m fairly new to investing, but Im a finance manager at a car dealership, and the Federal Privacy Act requires us to provide a “Privacy Notice” to every person who submits a credit application.
Additionally, the “Safeguards Rule” requires us to have and implement a detailed plan for protecting our customer’s non-public, personal information.
Can anyone tell me if these rules apply to us as investors, and if so to what extent?
Blessings,
Tom