Do interagency guidelines regulate how institutions dispose of consumer information?

• A. Yes, they dictate the level of care.
• B. No, disposal is entirely up to the institution.
• C. Only state guidelines apply.
• D. Disposal is not addressed by guidelines.

Answer: (A)

Interagency guidelines establish safeguards for protecting consumer information even after it’s no longer needed. They require institutions to dispose of information with a reasonable level of care to prevent unauthorized access or use. This means using proper methods such as shredding paper, securely deleting electronic data, and appropriately destroying media, with the level of care aligned to the sensitivity of the information. Because these guidelines set the standard for disposal practices, they do dictate the level of care that must be followed. They are not just optional or limited to state rules, and disposal is explicitly addressed by these guidelines, so saying it isn’t addressed would be incorrect.