Mr. Robert E. Feldman, Executive Secretary
ATTN: Comments/Executive
Secretary Section
Federal Deposit Insurance Corporation
550 I7"'
Street, NW
Washington, DC 20429
Re: ANPR Regarding Privacy Part 332 of FDIC's Rules and Regulations
Dear Sir:
In our opinion, the requirement to provide an annual privacy disclosure
to our customers isn't beneficial to them. Our customers have indicated
that a high percentage of them immediately discard the annual notice
without reading it. The mandate to provide this repetitive information
on an annual basis only places a burden on the financial institution
without providing new and useful information to our customers. The
financial burden of providing the privacy notice will ultimately
be passed on to the customer, thus further increasing their cost
of doing business. Our suggestion would be to eliminate the requirement
to mail an annual disclosure, unless our information sharing procedures
change, while maintaining the provision to provide the initial privacy
notice at account opening and upon request from customers.
We respectfully request that you consider this alternative.
Abbeville
Savings & Loan, SSB
