Bankers share your personal information — it’s a fact of life; Federal law allows them to do so.
A while back I received a message saying just that from Valley National Bank of Wayne, N.J.
The notice (which the bank is required to disclose) describes what the financial services company does and does not do with my social security number; account balances; transaction history; income information; asset transactions; and account transactions.
Reasons we can share your personal information Does ValleyNationalBank Share? Can you limit this sharing? For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus Yes No For our marketing purposes – to offer our products and services to you Yes No For joint marketing with other financial companies Yes No For our affiliates’ everyday business purposes – information about your transactions and experiences Yes No For our affiliates’ everyday business purposes – information about your creditworthiness Yes Yes For our affiliates to market to you Yes Yes For non affiliates to market to you No We don’t share
The community bank has a middle of the road asset class (roughly $16 billion); Other banks, no doubt, have similar practices if not the exact same.