FDIC Federal Register Citations

From: Robert Fait

Sent: Tuesday, February 17, 2004 12:49 PM

To: Comments

Subject:

RE: "Alternative Forms of Privacy Notices"

The best solution of the privacy notices would be to eliminate them

completely.

The second best solution would be to only require them at the time the

account is opened and at the time the notice is changed.

A short notice that does not allow for an opt out when the financial

institution when the financial institution does not share information with

outside sources other than affiliates and joint marketers should be allowed.

The costs to all financial institutions far, far exceeds the benefit to the

customer if there is any benefit. With approximately 10,000 accounts, I can

remember only 2 cases with the original notices where our customer had

questions. I don't recall any from the annual required notice. I consider

that a extremely burdensome requirement with no benefit.

Bank of Mauston

Robert L. Fait, President

503 Hwy 82E, PO Box 226

Mauston, WI 53948