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#1204623 - 06/19/09 07:01 PM Advertising
pshaf Offline
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Joined: Mar 2008
Posts: 3
I have a commercial lending officer who wants to run an ad in the news paper with the banks name and location saying the bank has provided (customers name) with term loan and revolving credit facilities totaling (rounded dollar amount) then loan officers name, title, and our locations. Can we do this. I know we have to have a release form from our customer, but is there anything else?

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Marketing
#1204847 - 06/19/09 10:51 PM Re: Advertising pshaf
1 Peter 5:7 Offline
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1 Peter 5:7
Joined: Jun 2001
Posts: 1,339
TX
Similar to tombstone ads in the investment banking world. Frankly, I don't know why a bank customer would agree to the public disclosure of that kind of borrowing detail. Granted, public records disclose some details of secured transactions, but I think this is way too much information.

Has the loan officer considered this downside? You would be giving your competitors hard-to-get information and essentially an invitation to launch a pinpointed assault on the relationship. I guarantee that's what my bank would do and I wouldn't fault them. Especially if the customer is a golden prospect in the community.

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Opinions are mine not my employer's, and should not be taken as legal advice.

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#1206686 - 06/24/09 02:35 PM Re: Advertising 1 Peter 5:7
MoneyMaker Offline

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Joined: Dec 2000
Posts: 215
Atlanta, GA USA
I agree with Peter. Sounds to me like this loan officer doesn't want to get out and sell....just run an ad that might get him an inquiry.
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