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#1479646 - 12/13/10 04:16 PM Easy way to Mail Privacy Notices?
complofcr Offline
100 Club
Joined: Apr 2010
Posts: 180
SE USA
This is my first time having to send out Privacy Notices and I was wondering if there was an easy way to send them out to everyone? We are sending them out in our DDA statements and I don't want to do double work so I ran some queries of customers that don't have a DDA (only a Loan, CD or Safe Deposit Box) and we will send those separately. Is this the only way to do it and make sure that everyone gets a notice?
Thanks!

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Operations Compliance
#1479720 - 12/13/10 05:32 PM Re: Easy way to Mail Privacy Notices? complofcr
Bob The Banker Offline
Platinum Poster
Bob The Banker
Joined: May 2010
Posts: 958
It depends on your processor and their capabilities.

The best thing before any attack plan is to have a full and thorough understanding of who needs to receive a notice.
Last edited by Bob The Banker; 12/13/10 05:33 PM.
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#1479849 - 12/13/10 08:02 PM Re: Easy way to Mail Privacy Notices? Bob The Banker
complofcr Offline
100 Club
Joined: Apr 2010
Posts: 180
SE USA
Hi Bob! I thought we had to send all current customers a notice. Is this not the case?

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#1479852 - 12/13/10 08:08 PM Re: Easy way to Mail Privacy Notices? complofcr
BrendaC Offline
Power Poster
BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
Reg P applies only to consumers. If you are sending to joint account owners, one notice will suffice. You can also deliver electronically if consumer has agreed to receive that way. Check out Reg P, Sec 216.9.
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#1480475 - 12/14/10 08:10 PM Re: Easy way to Mail Privacy Notices? complofcr
complylady Offline
Platinum Poster
complylady
Joined: Jul 2002
Posts: 614
Michigan
About 3 years ago I was assigned this responsibility and there was no easy way and customers were being missed. If you have a portfolio report you may be able to mail from that, but we don't and to make it workable we send the privacy notice as a statment stuffer during a month when quarterly statements also drop. Every statement gets one. As this doesn't cover loans, we mail one to every customer not on direct debit (we know they received one with their statement). Then, even though safe deposit customers should also have other accounts, we send a notice with the annual renewal notices. This may be overkill but this way we know we have everyone covered.

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