topic Re: Questions Regarding Banking Privacy in Community Chat

Questions Regarding Banking Privacy

Yardlie — Sun, 02 Apr 2017 13:16:28 GMT

I know HIPAA gives us privacy as far as health care goes. I know that there is a Federal Financial Privacy Act also, but I'm wondering if anyone knows how far that extends.

I know at the doctor's office, if you don't want a "shadow" in the room, you can just say that you prefer to be alone with the doctor.

The other day, we took my 92 y.o. mother to the bank. We needed to talk to her personal banker about some changes she was thinking about making to her finances. When we go in to the personal banker's office, normally we are alone with the banker. This time, there was someone new who was also in the room. My mother felt very uncomfortable with this situation and said that she would like privacy...so the banker just closed the door. I told the banker that we would like to discuss something alone with her, and the banker said, "Oh, Joe won't tell anyone what you say. He's shadowing me, because we're just breaking him in." We never did get to the root of the issue my mother wanted to discuss, because of the other person observing.

I'm just wondering if anyone knows for certain if there are Federal privacy laws that would apply in this case, such as there are in medical offices.

Thanks much!

Re: Questions Regarding Banking Privacy

CelticCrafter — Sat, 01 Apr 2017 22:10:26 GMT

I don't know if there are federal rules but if your mom was not comfortable, she should have asked that this other person leave. If he would not, then she should have cut the appointment short.

Re: Questions Regarding Banking Privacy

Kachina624 — Sat, 01 Apr 2017 22:54:40 GMT

I expect to see all privacy laws including HIPAA go out the window. That way special interests can send you solicitations about your specific medical conditions. Looser banking regs are already in the works. Brace yourselves.

Re: Questions Regarding Banking Privacy

Love my grandkids — Sat, 01 Apr 2017 22:13:55 GMT

Actuallly, I think you mean HIPAA.

And I would have put my foot down and insisted that the other person leave. And kept insisting until it was done.

Everyone has a right to financial privacy. I would go see this banker and address the issue of privacy in person. And be firm about it, regardless of the banker's "reason."

Re: Questions Regarding Banking Privacy

Mz iMac — Sat, 01 Apr 2017 22:13:46 GMT

""Oh, Joe won't tell anyone what you say. He's shadowing me, because we're just breaking him in.""

That is unacceptable!!!! You and/or your mother should have gone to the bank manager to complain.

This recently happened to my 92 yr old mother. In her case, there was an extra body in the room - in training.

My mother left the office & complained to the bank manager who ended up taking care of her. I was not w/her at that time.

Re: Questions Regarding Banking Privacy

151949 — Sat, 01 Apr 2017 22:14:24 GMT

If you go to the doctor and he has a med student or an intern with him they will stay in the room and probably also examine you. This is the same thing. Next time you go to the bank the person sitting at that desk may very well be that young man. Honestly, I seldom understand people and all this secrecy. Trust me - he doesn't care - he's just trying to learn his job.

Re: Questions Regarding Banking Privacy

Yardlie — Sat, 01 Apr 2017 22:26:04 GMT

@Kachina624 wrote:
I expect to see all privacy laws including HIPPA go out the window. That way special interests can send you solicitations about your specific medical conditions. Looser banking regs are already in the works. Brace yourselves.

I understand, but I don't want this to become a political discussion.

Re: Questions Regarding Banking Privacy

Yardlie — Sat, 01 Apr 2017 22:26:32 GMT

@Love my grandkids wrote:
Actuallly, I think you mean HIPAA.

And I would have put my foot down and insisted that the other person leave. And kept insisting until it was done.

Everyone has a right to financial privacy. I would go see this banker and address the issue of privacy in person. And be firm about it, regardless of the banker's "reason."

Yes, thank you ... My bad.

Re: Questions Regarding Banking Privacy

gracie2014 — Sat, 01 Apr 2017 22:28:37 GMT

@151949 My doctors always makes it a point to ask for permission for a medical student, intern,resident whoever to sit in and watch...and sometimes to exam me...there have been times when I say no...the timing is off..but most of the time because I have acute intermittent porphyria I let them in....due to the rareness of the disease...I may be the only one they ever see....but it is up to me... If the OP's mom was uncomfortable with someone else being in the room...they should have honored her request....mom is the customer..paying for this service..

Re: Questions Regarding Banking Privacy

Yardlie — Sat, 01 Apr 2017 22:32:28 GMT

@151949 wrote:
If you go to the doctor and he has a med student or an intern with him they will stay in the room and probably also examine you. This is the same thing. Next time you go to the bank the person sitting at that desk may very well be that young man. Honestly, I seldom understand people and all this secrecy. Trust me - he doesn't care - he's just trying to learn his job.

@151949 ... When you go to the doctor, you have every right to ask the medical student or intern to leave the room. Yes, that is how they learn, but you do not have to agree to have them present when the doctor examines you. In fact, the doctor is supposed to ask if it is OK to have someone else observe or examine you.

I'm just wondering if there is some Federal law that extends that right to the banking industry too. There are plenty of people who want their privacy respected when they are with their doctor or banker.

Re: Questions Regarding Banking Privacy

gracie2014 — Sat, 01 Apr 2017 22:34:37 GMT

Your mom had every right to want privacy...no strangers being trained on her dime...whoever was doing the training should have honored her wishes...the trainer could have explained to the new kid on the block what went down during the visit...and I am sure there are plenty of others who would not mind the new kid on the block sitting in on the meeting. She is paying them....she calls the shots..as it turned out this unexpected presence prevented you from addressing the root of the issue...which means what? Another visit to the bank?

Re: Questions Regarding Banking Privacy

Yardlie — Sat, 01 Apr 2017 22:34:47 GMT

@Mz iMac wrote:
""Oh, Joe won't tell anyone what you say. He's shadowing me, because we're just breaking him in.""

That is unacceptable!!!! You and/or your mother should have gone to the bank manager to complain.

This recently happened to my 92 yr old mother. In her case, there was an extra body in the room - in training.
My mother left the office & complained to the bank manager who ended up taking care of her. I was not w/her at that time.

That is one of the reasons why I want to know if the Federal laws gives clients privacy during financial transactions. I want to know if they have violated some law by not respecting our right to privacy. We asked twice.

Re: Questions Regarding Banking Privacy

SaRina — Sat, 01 Apr 2017 22:35:56 GMT

I have permitted shadowing in doctor's offices, but I would not permit it in a personal financial situation. You have every right to insist a private meeting with your personal banker.

Re: Questions Regarding Banking Privacy

Yardlie — Sat, 01 Apr 2017 22:38:25 GMT

@gracie2014 wrote:
Your mom had every right to want privacy...no strangers being trained on her dime...whoever was doing the training should have honored her wishes...the trainer could have explained to the new kid on the block what went down during the visit...and I am sure there are plenty of others who would not mind the new kid on the block sitting in on the meeting. She is paying them....she calls the shots..as it turned out this unexpected presence prevented you from addressing the root of the issue...which means what? Another visit to the bank?

@gracie2014 ... Exactly! Re: your other post, it is very nice of you to let the medical students examine you given your rare condition. I'm sure everyone appreciates it.

Re: Questions Regarding Banking Privacy

gracie2014 — Sat, 01 Apr 2017 22:45:01 GMT

@Yardlie Thank you...if I am not in the mood...or should I say in a mood because the pain is so great..I ask them to come back another time...it always works out....but with banking good grief..the trainee could have stepped out of the room...

Re: Questions Regarding Banking Privacy

Mz iMac — Sat, 01 Apr 2017 22:49:23 GMT

@Yardlie

The law in part....

"It's important that you read the mail you receive from your bank and other financial institutions. The law requires these companies to explain how they use and share your personal information. The law also allow you to stop or "opt out" of certain information sharing. "You need to be observant," says Ken Baebel, Assistant Director of the FDIC's Division of Compliance and Consumer Affairs. "You need to look for the privacy notices from your financial institutions, which may come as part of a monthly statement or as a separate mailing. You also need to understand whether an institution intends to share personal information with other companies and, if so, what you can do to prevent information sharing, if that's what you want. Otherwise, it will be up to the institution to decide who gets details about you and your finances."

CLICKY CLICK-->Your Rights to Financial Privacy

Or Goggle it.

Re: Questions Regarding Banking Privacy

SaRina — Sat, 01 Apr 2017 22:54:07 GMT

I did a preliminary search of federal laws in regard to your situation and I don't believe there are any for the simple reason that none would be required in this instance. I think all that would be required is your request.

ETA: What @Mz iMac quoted, I believe, is only in regard to sharing your financial information with third parties. meaning other businesses. I don't think it has anything to do with privacy during a meeting with your personal banker.

Re: Questions Regarding Banking Privacy

Kachina624 — Sat, 01 Apr 2017 22:54:02 GMT

It would only be courteous for the person conducting the interview to ask if the customer minded another person being there. If she said yes, she minded, he should have excused himself. I'd call the branch manager and complain.

Re: Questions Regarding Banking Privacy

missy1 — Sat, 01 Apr 2017 23:00:22 GMT

When an intern is in the room, the Dr. always ask me if it's ok. I generally, agree. They have to learn somehow.

Re: Questions Regarding Banking Privacy

151949 — Sat, 01 Apr 2017 23:21:03 GMT

So - the next time you go to the bank and the person behind the desk is this kid you didn't want in the room - then what are you going to do? You will be doing your business with him!