Which of these scenarios requires a privacy notice to be sent after establishing a relationship?

The correct choice relates to situations where a privacy notice is mandated after a relationship has been established. When a loan is purchased, the borrower has limited choices regarding the transfer of their personal and financial information, and certain regulations require that the entity involved must provide a privacy notice to ensure that the borrower understands how their information will be handled. This notice serves to inform the borrower about their rights concerning their personal information, including details on how it may be shared with third parties and the measures in place to protect it.

In the case of opening a new savings account, the privacy notice is often given at the time of account creation rather than afterwards. Similarly, while a customer requesting a privacy review might warrant some form of communication, it typically does not necessitate a new privacy notice since that is part of an ongoing dialogue. Closing an account can also lead to the end of the customer relationship, making it less likely for a new privacy notice to be required at that stage. Thus, among the scenarios provided, the purchase of a loan clearly necessitates a privacy notice due to the obligations set forth by privacy regulations.