03/04/2002
The holding company my bank is an affiliate of also owns an insurance agency in our market area. I recently saw a marketing brochure of theirs (my bank's Marketing Director acted as a consultant on the piece) that references that my bank and they are corporate partners. In the brochure are the types of insurance they sell, to include life, and the products they offer such as IRA's. There are no FDIC disclosures or NDIP disclosures in the brochure. Do we have a regulatory problem?
01/07/2002
I have a question regarding the GLB privacy provisions. Our tellers place customer account numbers in their teller machines as reference to the transaction being performed. If a customer presents a check not drawn from their own account, their account number is placed on the back under their indorsement. By requesting this account number, would this be a violation of the GLB privacy provisions? My thought is that the bank would then be providing non-public customer information to a third party, which is against ourprivacy policy.