We have a partnership agreement with a financial company that offers credit cards. We have our company name 'branded' on the credit card. We do not provide this FI with customer names, we only have the brochures/applications in the lobbies.

It has been our understanding that, as we are not sharing any nonpublic personal information, we are not required to answer YES in the table on the first page, and therefore we don't need to include 'credit card companies' in the last table in reference to joint marketing.

Thoughts?

That is also how I interpreted the relationship. We have just started the same agreement with our correspondent bank. The cards a 'branded' with our name, but the application goes to the correspondent bank, they make the decision and they have all the liability. We are not sharing nonpublic personal information with them.

Ok- further research indicates that the contract/agreement with the credit card company allows for customer lists to pass to the cc company. We don't do this in practice, but he agreeement states we can do it- does the legal language change the game and require us to disclose to customers that we have a joint marketing agreement?

thanks in advance

thanks Doug! just wondering if anyone else has an opinion? If the contract says we can provide lists, but don't, are we still obligated to disclose the possibility? Our auditor says we need to remove the language from the contract, or revise the privacy agreement. Other compliance consultants state no action is required, as in practice, we are not sharing NPPI- and that is the entire reason for the disclosure in the first place.

Yeah, I have heard the "in practice" argument before and IMHO it is bullcrappy. You have a contract that gives you the right to share, therefor it exists.

We have the same thing in Texas with credit cards issued by TIB and the FDIC is writing up banks left and right over the same language. So, you can go with the compliance consultants that state that no action is required or you can go with the FDIC - take your pick.

We have the same sitch...also with ADD insurance on a deposit product. We don't share, however, we say "YES" and list "insurance companies and credit card companies" in the JM section.