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#1018835 - 08/13/08 02:29 PM Opt Out from own bank?
kjbabington Offline
100 Club
Joined: Jan 2006
Posts: 209
FL
We had a customer request to Opt Out from the marketing letters or offers sent to them from us. We do not share customer information and therefore do not offer opt outs to anyone (as we are not req. to). Is there a regulatory requirement for us to Opt Out our own customers upon request?

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#1019569 - 08/13/08 09:22 PM Re: Opt Out from own bank? kjbabington
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,765
Central City, NE
Nope.
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#1022077 - 08/18/08 04:31 PM Re: Opt Out from own bank? David Dickinson
complyyes Offline
Member
Joined: Apr 2006
Posts: 51
Midwest
I am being asked to prove to members of our bank that we do not have to allow our customer to Opt-Out from our marketing letters and offers from our bank to our bank customers. I cannot put my finger on the portion of Reg. P, GLBA, FCRA to pinpoint this. Can someone help?

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#1022568 - 08/19/08 02:56 AM Re: Opt Out from own bank? complyyes
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 84,326
Galveston, TX
Laws and regulations typically only tell you what you have to do - not what you do not. Therefore, you are going to have a hard time finding "proof". The only place this may be addressed, if required, would be in the Ohio statutes. There is no requirement at the Federal level for opting-out of solicitations to existing customers.

I guess I would question why you would not have a process to support an opt-out?? If I was your customer and I called and said - don't send me this cr*p anymore - and you continued - I would leave.
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#1030526 - 08/28/08 09:28 PM Re: Opt Out from own bank? rlcarey
CubDave Offline
Diamond Poster
Joined: Oct 2005
Posts: 1,562
We also do not share/sell, etc. but when I get opt-out requests, I let them opt-out. No reason to send a customer stuff if they don't want it.

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#1030714 - 08/29/08 01:00 PM Re: Opt Out from own bank? CubDave
renniks Offline
Diamond Poster
renniks
Joined: Sep 2003
Posts: 2,162
New England
We also do not share or sell information, but we do provide an opt out. We do it mostly so that if we decide to share information at some point, we have already provided the mechanism for our customers to opt out and those that wanted to, already have.....

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