My operations department has come to me (compliance officer) questioning what we as a bank may need to do to be compliant with the new MasterCard Account Updater that M/C is putting in place come October. Well - I'm not real sure. What is everyone else putting in place for this? Do we need to contact every debit card customer and give them the option of opting-out to this service? Does this affect our Privacy Policy or T&C's in any way? Where should I start with this? Is anyone else working on this currently?
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