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From: Stephen J Mills
To Whom It May Concern:
Pursuant to your request for comments regarding the proposed Model Privacy Notice by May 29, 2007 please find the following:
After reviewing the Interagency Proposal we have found the Model Privacy Notice to be an improvement over prior guidance provided by the Agencies. We believe the Model Privacy Notice would enable consumers to more easily identify and compare sharing practices among financial institutions. However, we believe the form should be designed to fit on the front and back of one page, rather than using multiple pages.
The privacy rule requires a
financial institution to provide a privacy notice to its customers no later
than when a customer relationship is formed and annually for as long as the
-- Provide a notice to the customer no later than when a customer relationship is formed;
a notice to the customer whenever there is a change in the financial
-- Provide a notice upon a consumers request.
we believe the proposed Model Privacy Notice (with minor format changes) is
an improvement. However, financial institutions and consumers would be
better served, and regulatory relief would be advanced if the annual
mailings were no longer required.
VP Hometown Bank
Fond du Lac, Wisconsin
|Last Updated 05/08/2007||Regs@fdic.gov|