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FDIC Federal Register Citations

Bank of Edison

From: Stacie Ragan
Sent: Wednesday, March 21, 2007 12:12 PM
To: Comments
Subject: MODEL PRIVACY FORM

I think the layout of the new form is easier to understand.  I just don't know how much attention consumers actually give to these notices.  Regardless this should be easier to understand. 

I just hope that if this new form is implemented it won't be changed again in a few years.  Providing these forms gets pricey especially for a community size bank.  It is cheaper to stock in bulk. 

Also please consider removing the annual notice requirement for bank's that do not have changes to their privacy policy.  You could also tie it to the composite rating.  If you have a 1 and have had no changes then no annual notice requirement.  The notice requirement gets quite burdensome.  It takes a good portion of time especially for customers that have only lending relations.  I do think the notice should be provided at account opening. 

Thank you for you time.

Stacie Ragan
Compliance Officer
The Bank of Edison
Edison, Georgia

 


Last Updated 03/29/2007 Regs@fdic.gov