Skip to content

Customer Confirmation on Receiving Privacy Notice

Answered by: 

Do we have to/should we have our clients sign/acknowledge that they received a copy our our new Privacy Notice that went into effect 2010? My question stems from a recent FDIC exam.

Answer by Kathleen Blancard: There is no requirement for acknowledgement of the notice. I would try not to get drawn into such a process. Show how you deliver it with each new customer/account and how you send it each year for the annual notice requirement. There is no requirement for a signed acknowledgement.


Answer by Ken Golliher: Whenever an examiner tells you something that you know to be patently ridiculous (yours is a good example) politely ask for a citation to law or regulation. Their training focuses on their responsibility to provide you with that information if you ask for it.

Regulation P doesn't even have record retention requirements, let alone a requirement for a signed receipt.

First published on 8/15/11

First published on 08/15/2011

Filed under: 
Filed under lending as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics