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The Right?Consumers must be given the right to ?opt out? of, or prevent, a financial institution from disclosing nonpublic personal information about them to a nonaffiliated third party unless an exception to that right applies.
Not choosing to subscribe to newsletters, unticking a previously ticked checkbox, not consenting to save personal details, rejecting the use of cookies, etc. are some examples of opt-out. E.g. Companies add an unsubscribe link at the end of their emails to let users opt out of emails.
What is Opt-Out? An opt-out process requires the user to take action to unsubscribe if they no longer want to receive emails or newsletters. Opt-out is when they add you to their mailing list and give you the option not to receive their emails.
What is an Opt Out Right. An opt out right generally describes a party's ability to exclude themselves from specific elements of or changes to a legal agreement. In finance, this right applies most often to sharing of private information among financial institutions.
Opting out is present in all the data protection laws worldwide, even those that rely on the opt-in principle. Whenever a business processes some personal data, they have to provide the user with opt-out request options.