What is required or what is the best liability protection when allowing a non-owner to obtain account information?
Can you suggest any great alternatives for challenge questions that are not easily accessible to criminals and outsiders?
What makes a bank exempt from sending out annual privacy disclosures?
Who owns the risk if an annual Privacy Notice was not sent to a client, the lender or the servicer?
The alternate delivery method for annual privacy notices requires the notice to be included "on" a statement, coupon book, notice, disclosure. However, some statement forms don't lend themselves to putting a message right on the statement. Instead, can we insert a notice with the statement that contains the required language, indicating that the privacy notice is available on our website?
We have a bank disclosure on our acct agreement that reads: We authorize the Bank to obtain and exchange information regarding business owner, including credit reports and info from fed and state agencies such as IRS.
The customer does not want to sign. Are we required to provide this information to IRS and State agencies?
What regulations outline requirements for shredding of paper documents that are bank, or customer, consumer information?
The latest in the requirements set forth in the GLB Act on Privacy have been issued. Called the Safeguards Rule, they have an effective date of May 23, 2003.
"Privacy fundamentalism is not increasing.