Financial institutions have a responsibility to provide requisite notice upfront of potential significant harm that may be caused by the use of their financial products or services, including but not limited to negative effects on credit records. Significant harm includes bodily harm, humiliation, damage to reputation or relationships, loss of employment, business or professional opportunities, financial loss, identity theft, negative effects on the credit record, and damage to or loss of property. Without this notice, consumers may face detrimental consequences to their financial health and are denied the opportunity to make informed decisions. Consumers are to be informed of the consequences of sharing their personal information for valid consent.