Latest Compliance - Security Topics

The new banking law contains several provisions related to customer privacy. First, the act requires financial institutions to have a privacy policy.

It is in the bank's interest to inform customers about ways that customer information could be used without customer authorization.

If you haven't gotten the message yet, the invasion of customer privacy by banks is out.

You may already have a privacy policy in your bank. This is the time to take a close look at that policy and decide whether it is sufficient for today's and tomorrow's needs.

A presence on the Internet raises special privacy concerns. The possibilities of how information security can be breached are multi-directional.

by Dana Turner

John D. Hawke, Comptroller of the Currency, urged banks to strengthen their internal audit and compliance programs.

Question: We are thinking about buying dealer paper from furniture companies. Are there any special compliance issues we should be concerned about?

As marketing techniques - especially marketing "research" techniques - become more aggressive and competitive, banks should hone their techniques for guarding data.

For Y2K compliance, most banks are looking at what is known to be Y2K vulnerable: computers, computer programming.