Definition of Customer and Non-Customer

There are no universal definitions of these terms, however it is safe to say that a "non-customer" is any entity that fails to meet the operative definition of "customer."

Exclusively for the purpose of consumer financial privacy, "customer" is defined at 12 CFR Part 1016.3(i).

For other purposes, state laws may assign a particular meaning to the term. Ultimately, Webster defines "customer" as "one that purchases a commodity or service."

First published on BankersOnline.com 8/20/12