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I understand there is an interagency proposal for a model form for privacy notices in the works. The Privacy Act was originally issued for the protection of the public, but has grown so burdensome that even the majority of the customers dont read this stuff any more. I object to any further expansion of the Reg. P. due to the fact that postage, printing, paper, and personnel costs to comply for additions to the notices are so cost prohibitive. Any statement or notice that is over 5 pages long is costing anywhere from 63 cents now just for postage, and when postage increases so will that expense. We like so many other banks mail the notices in our statements and should that change so does the expense. Please rethink the regulation.
|Last Updated 05/03/2007||Regs@fdic.gov|