Customer Privacy and Confidentiality

Maintaining the privacy of a customer's information is one of the cornerstones upon which trust in the U.S. banking system is based. Misuse or unauthorized disclosure of confidential customer data may expose a financial institution to customer litigation or action by regulatory agencies. To meet expectations regarding the privacy of customer information, financial institutions should ensure that their privacy policies and standards comply with applicable privacy laws and regulations, particularly the privacy requirements established by GLBA. The regulation implementing GLBA's requirements also describes standards on electronic disclosures that apply if an institution elects to display its privacy policy on its website.

 

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