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Reuse of Consent

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Question: 
We have customers who are receiving electronic statements on one account (have already provided agreement online that they understand and consent to receiving electronic statements) and then come in at a later date to open a second or third account. May we use the previous consent since the customer is the same, computer being used to access the account is the same and the email address is the same for notification purposes? We have had customers consent again when they open the second and third account and are now receiving lot of negative feedback from the customer. Most importantly they do not understand why we do not automatically set them up for e-statements on their new account since we know them and know they can receive and read our electronic statements.
Answer: 

The customer is always right. Do what the customer is telling you, change the scope of your opt-in from "this account" to "all deposit accounts" or "all accounts of any kind." This will solve the problem prospectively, but you will still need to get the universal consent from existing customers who have provided only a limited consent.

First published on BankersOnline.com 12/03/07

First published on 12/03/2007

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