FDIC Federal Register Citations


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From: Deneen Fayette
Sent: Tuesday, February 17, 2004 11:45 AM
To: Comments
Subject: ANPR Regarding Privacy

I would like to make the following comment on the Advanced Notice of
Proposed Rulemaking Regarding Privacy.

Garden Plain State Bank is a $47 million bank located in Wichita, Kansas.
We, like many community banks, do not share information with third parties
or affiliates, except as permitted by law. We have a very simple privacy
notice that is easy to read and very understandable. We have spent a good
amount of time and money developing and printing these notices and adding
them to our computer system, along with the required employee training.

I understand that many banks have very complicated privacy practices and
notices which may confuse consumers. I worry, however, that your efforts to
provide more understandable and useful notices will increase our costs and
require us to make changes to our notices, which are already acceptable.
The idea of revamping a system that already works for small banks for the
benefit of large, more complicated banks seems unfair. Small banks do not
have the resources readily available to make such changes.

I propose that any changes made be voluntary. I would trust that banks
that knowingly have complicated notices would voluntarily make changes to
improve their usefulness. This would allow banks like ours to keep their
current forms and spare additional expenses.

Deneen Fayette
Senior Vice President
Garden Plain State Bank
Wichita, Kansas

Last Updated 02/20/2004

regs@fdic.gov

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