FDIC Federal Register Citations

From: Daniel Hulseapple [mailto:dlhulseapple@citlink.net] 
Sent: Thursday, July 15, 2004 12:34 PM
To: Comments
Subject: RE: SUBJECT: Notice of Proposed Rulemaking Regarding Affiliate Marketing Opt Outs 

Regarding the section of the notice as received which states:

The NPR contains the statutory requirement for financial institutions to provide an opportunity for consumers to opt out of marketing solicitations that are based on certain information received from an affiliate. The proposal assigns responsibility for providing this opt out to the financial institution that communicates the information about the consumer to its affiliates. An opt out is not required when an affiliated entity that will market to the consumer: 

I do not agree with, nor accept the premise that is expressed in the following three non- requirements to providing an "opt out" link:

• Has a pre-existing business relationship with the consumer; 
• Already provides benefits to the consumer under an employee benefit plan; 
• Responds to a communication initiated by the consumer.


Just because there has been a prior existing business relationship by a consumer with a business thus governed, does not mean that the relationship still exists, or is intended to exist with the inception of this regulation. I deem it extremely necessary that EVERY contact that takes place must have the option to say "NO", even after a consumer signs on. One can change one's mind. 

Also, that a consumer does business with a company as a result of benefits to the consumer under an employee benefit plan, again does not automatically indicate that a consumer wants to have other dealings with that company. The new regulation has to insure that this option is available for
other contacts from the same company, but to a consumer in a different setting.

And finally, just because a consumer makes contact with a company, does not mean that the consumer wants to do business with that company. I frequently return mailings to the senders of materials that I did not request, utilizing their return addressed, postage paid envelopes. I should have, instead, a simple card and return envelope that states "NO thank you!" and would be sufficient to have me completely and permanently removed from their files until such time as I personally request to be placed back in their files.

Thank you for the opportunity to respond.

Daniel L. Hulseapple