More text for transparency vs. cleaner design

Topic:
Make user sign up for newsletter in an online fashion shop.

Problem:
I want to be as transparent as possible with the users and not give them the feeling that this is just to grab their data.
The problem is that to be more transparent you have to add more text, which in turn clutters the already somewhat annoying view for the user.


Mockups:
Keep in mind that the text is placeholder like, it will be fine-tuned later. Also, in my country the checkbox text has to be that long, so I kept it that way here.

Dialog with as little text as possible:

enter image description here

Dialog with additional text to make the user less scared of the newsletter:

enter image description here


Question:
Is it favorable to give up some "cleanness" for the sake of transparency? Or maybe the user won't even care at all and only get more annoyed by the additional text.