Account Data not for Sharing Even if Customer Consents
June 18, 2001
Financial institutions may not disclose unencrypted account numbers to unaffiliated third parties even with a customer’s express, written consent, according to federal thrift and banking regulators. Responding jointly to a business entity, counsels with the Office of the Comptroller of the Currency, Office of Thrift Supervision, Federal Reserve Board, Federal Deposit Insurance Corp., and National Credit Union Administration said that interpreting the Gramm-Leach-Bliley Act’s privacy provisions to suit the entity’s arguments would undermine the prohibition