If you submit confidential commercial information to NCUA, it may be disclosed in response to a FOIA request in accordance with this section.

For purposes of this section:

Confidential commercial information means commercial or financial information provided to NCUA by a submitter that arguably is protected from disclosure under § 792.11(a)(4) because disclosure could reasonably be expected to cause substantial competitive harm.

Submitter means any person or entity who provides business information, directly or indirectly, to NCUA.

Submitters of business information must use good faith efforts to designate, by appropriate markings, either at the time of submission or at a reasonable time thereafter, those portions of their submissions deemed to be protected from disclosure under § 792.11(a)(4). Such a designation shall expire ten years after the date of submission.

We will provide a submitter with written notice of a FOIA request or administrative appeal encompassing designated business information when:

The information has been designated in good faith by the submitter as confidential commercial information deemed protected from disclosure under § 792.11(a)(4); or

NCUA has reason to believe that the information may be protected from disclosure under § 792.11(a)(4).

A copy of the notice to the submitter will also be provided to the FOIA requester.

Through the notice described in paragraph (d) of this section, NCUA will afford the submitter a reasonable period of time within which to provide a detailed written statement of any objection to disclosure. The statement must describe why the information is confidential commercial information and why it should not be disclosed.

Whenever we decide that we must disclose confidential commercial information over the objection of the submitter, we will send both the submitter and the FOIA requester, within a reasonable number of days prior to the specified disclosure date, a written notice which will include:

A statement of the reasons for which the submitter's disclosure objection was not sustained; and

A description of the information to be disclosed; and

A specified disclosure date.

If a requester brings suit to compel disclosure of confidential commercial information, we will promptly notify the submitter.

The notice requirements of paragraph (d) of this section do not apply if:

We determine that the information should not be disclosed;

The information has been lawfully published or has been officially made available to the public;

Disclosure of the information is required by law; or

The designation made by the submitter in accordance with paragraph (c) of this section appears obviously frivolous; except that in such case, NCUA will provide the submitter with written notice of any final administrative decision to disclose the information within a reasonable number of days prior to the specified disclosure date.