What does the term 'non-public information' refer to in the context of Regulation P?

The term 'non-public information' in the context of Regulation P refers specifically to private consumer information that is held by financial institutions. This regulation is designed to protect the privacy of consumers by restricting how financial institutions can share non-public personal information about them. Such information includes details like account numbers, transaction histories, and any personally identifiable information that is not publicly available.

Understanding this definition is crucial for financial professionals as it informs their responsibilities regarding consumer data protection and compliance with privacy laws. The regulation places an emphasis on safeguarding consumer trust and ensuring that sensitive information is handled appropriately. This distinction is significant in shaping policies around data management and consumer privacy in the financial sector.