Employee Account Privacy

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Question:

We are flagging employee accounts so that non-authorized employees are unable to view other employees’ accounts. If an employee is a signer on an account or a joint holder on a non-employee account, should that account be flagged as an employee account? For example, an employee is joint on a sibling or signer on a child’s account.

Answer:

You've described a policy decision that bank management needs to address. In other words, management needs to define what it means by employee accounts. Of course, the bank needs to keep in the forefront of its mind the need to restrict access to customer information generally to those employees with a need to know, under Reg P.

First published on BankersOnline.com 10/22/07