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#98279 - 07/17/03 07:47 PM Mismailing of Statement
Anonymous
Unregistered

In the past when one customer's statement was inadvertently mailed with another customer's statement, we apologized and went on our way. Now that the privacy laws are in place, is anyone handling these situations any differently?

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Operations Compliance
#98280 - 07/18/03 12:57 PM Re: Mismailing of Statement
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
In spite of all the controls bankers put in place, errors do happen. The spate of privacy laws and regulations now in place can only make you want to avoid this situation more than ever before.

There's really not much more you can do than apologize to the person who's received the wrong statement. Then dig (perhaps more than you might have in the past) to determine if there is a breach in your controls that allowed the error to happen, and plug it.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
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#98281 - 07/18/03 01:08 PM Re: Mismailing of Statement
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Ditto John. At the federal level, the GLB privacy provisions have no effect on inadvertent disclosures. The legal effect of their requirements is to require you to give a describe your practices and give the consumer an opportunity to opt out of certain disclosures. However, the customer information security provisions with their origins in GLB should prompt you to follow John's advice and see if there is a systemic problem.
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#98282 - 07/18/03 01:09 PM Re: Mismailing of Statement
zaibatsu Offline
Power Poster
Joined: Jun 2001
Posts: 6,153
Quote:

In the past when one customer's statement was inadvertently mailed with another customer's statement, we apologized and went on our way. Now that the privacy laws are in place, is anyone handling these situations any differently?




Really want to make your customers worry--print on the envelope "if this is not addressed to you, do not open. Return immediately to Bank. We will gladly reimburse your postage." You know kind of like the disclaimers you see at the bottom of emails about "if this email was not intended for you".... (Never really understood putting that at the end of the email. Wouldn't the person have already read the email by the time they saw your disclaimer at the bottom?) These kind of warnings serve to make your customer more concerned about how often this happens. They will be thinking--"wow, this happens so often that they have to print a warning about it."
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