Summary of Project
The Gramm-Leach-Bliley Act (GLBA) and its implementing regulations require financial institutions to provide to their customers initial and annual notices (privacy notices) of their privacy policies and practices.
The Federal Trade Commission (FTC) requires the support of a Contractor to develop one or more alternative forms of privacy notices including various components of such notices, such as formats, clauses, or vocabulary that may be used in privacy notices.
The overall objective of this project, referred to as the Form Development Project, is to design alternative privacy notices that are easier for consumers to understand and use, relative to current privacy notices commonly used by financial institutions. The Contractor must have experience in developing forms to be used by consumers, including experience in applying appropriate qualitative, in-person research methods for studying the use of such forms.
Background
This research is co-sponsored by six of the federal agencies (the Agencies) authorized under the GLBA to implement regulations that require financial institutions to provide privacy notices to their customers.
The Agencies are interested in conducting consumer research into how privacy notices may be made more understandable and useful to consumers.
The Agencies plan to conduct this research in two sequential projects: (1) the Form Development Project and (2) the Survey Project.
Each of these projects will be performed under separate contracts. This is the Statement of Work (SOW) for the contract for the Form Development Project.
