Community Chat

[sidsmom]

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@Yardlie wrote:

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@sidsmom wrote:

@Yardlie

If this is a smaller town/city where things are that old school,

maybe the banker could come visit your mom to 

go over her finances in her own home?

Much like insurance agents of past. 

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Her personal banker has actually offered to do so. My mother has refused this offer as she likes to get out in public now and then.

Here is an interesting article I found online:

https://www.ftc.gov/tips-advice/business-center/guidance/financial-institutions-customer-information...

Of particular interest to me was this statement regarding client security:

"Limiting access to customer information to employees who have a business reason to see it. For example, give employees who respond to customer inquiries access to customer files, but only to the extent they need it to do their jobs."

This is how hospital records are handled. As I mentioned above, the people viewing the record need to sign in to see the record. The records are audited to make sure unauthorized people have not viewed the file. There have been some famous cases where hospital staff signed in to the file of a movie star or singer. Those staff were terminated.

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Yes, I mentioned that upthread...knowing info with a 'as needed' basis.

The trainee has the same access as the other bankers within the organization.  The security is when a Code of Ethics process is in place.

At the end of the day, it's a customer service issue, not a regulatory issue.  

I would take up the banker's offer for a home visit...especially for her financial matters....then do other, more fun things, to honor the 'get out in the public now & then.'  Win, win.  No mis-understandings, no bad feelings. 

[chrystaltree]

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@Maudelyn wrote:

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@chrystaltree wrote:

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@Maudelyn wrote:

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@chrystaltree wrote:

That's a good question, I hope someone who really knows the answer weighs in.  I do think you or your mother should have said firmly that you did not want to discuss the matter with a third party in the room.  Yes, indeed shadowing is a part of the training and education process in many fields.  It's very important and necessary bu the customer or patient can always refuse.  The bank ignored your mother because she was vague and wishy washy.  Assertiveness counts....especially for women.  You mother should have reminded the banker that she's a CUSTOMER and wishes prevail and then she should have said, she'd be back when she could discuss her business in private.....and she'd CALL first to ensure it.  And then she should have left.  Trust me, that banker wasn't going to let her leave.

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People who know have weighed in.  The banker is required to keep customer information confidential.  The banker can lose his/her job if he/she discloses confidential info to others.  The bank can be sued if they disclose confidential info.

The customer comes first however, and the trainee should have left the meeting when the customer made that request. 

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      People gave their opinions but no one cited any Federal or State regulations that cover the subject.  The discussion about privacy in financial matters does not cover this particular situation because the person observing or shadowing obviously worked for the bank and therefore was allowed to hear and have that information. 

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It is not opinion that bank employees are required to keep information confidential.  Laws regulate what banks can do with customers personal financial information and when they can share it.  Banks have their own policies about employees disclosing personal financial information. I've worked in finance for various insitutions for 35 years. I've always had to train annually on the institution's internal  privacy policies as well as federal regulations with regard to info sharing.

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       Whatever....   Still doesn't address the subject we're talking about. 

[Yardlie]

Thanks, everyone for all your input! My mother and I both appreciate it.

[NYC Susan]

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@Maudelyn wrote:

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@chrystaltree wrote:

That's a good question, I hope someone who really knows the answer weighs in.  I do think you or your mother should have said firmly that you did not want to discuss the matter with a third party in the room.  Yes, indeed shadowing is a part of the training and education process in many fields.  It's very important and necessary bu the customer or patient can always refuse.  The bank ignored your mother because she was vague and wishy washy.  Assertiveness counts....especially for women.  You mother should have reminded the banker that she's a CUSTOMER and wishes prevail and then she should have said, she'd be back when she could discuss her business in private.....and she'd CALL first to ensure it.  And then she should have left.  Trust me, that banker wasn't going to let her leave.

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People who know have weighed in.  The banker is required to keep customer information confidential.  The banker can lose his/her job if he/she discloses confidential info to others.  The bank can be sued if they disclose confidential info.

The customer comes first however, and the trainee should have left the meeting when the customer made that request. 

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I agree.  The comfort level of the customer should be important to the bank.  Some people wouldn't care, but those who do should be treated with respect.  Regulations or not, if I felt uncomfortable, I would say that I prefer to have a more private conversation.  If that wasn't respected, I would find another bank.

[NYC Susan]

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@chrystaltree wrote:

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@Kachina624 wrote:

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. 

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       Huh?   If HIPPA privacy regs leave then your insurance company can...and will send your medical records and details about your health to your employer and to your health insurer and and in the event of your death, to your life insurance company and if you are famous, to the media.  And anyone who works in a doctor's office or hospital can tell your neighbors all about that lumpy rash you have on your axx....that's what you want???

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I don't think it sounds as though this is what @Kachina624 wants. Unless I'm misunderstanding, it sounds like the exact opposite.

[Kachina624]

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@NYC Susan wrote:

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@chrystaltree wrote:

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@Kachina624 wrote:

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. 

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       Huh?   If HIPPA privacy regs leave then your insurance company can...and will send your medical records and details about your health to your employer and to your health insurer and and in the event of your death, to your life insurance company and if you are famous, to the media.  And anyone who works in a doctor's office or hospital can tell your neighbors all about that lumpy rash you have on your axx....that's what you want???

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I don't think it sounds as though this is what @Kachina624 wants. Unless I'm misunderstanding, it sounds like the exact opposite.

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Thank you @NYC Susan.  You are correct.  I absolutely oppose any intrusion into our private affairs. 

[AngusandBuddhasMom]

I spoke with my DD who herself is a Senior financial adviser on her IT security & fraud team and she said the employee Joe should be in the room as a bank employee. If you felt that Joe had some sort of nefarious reason of being there then you should have told the personal banker and manager.  They would have both explained why Joe was there and that he is not out to harm your Mom's money.

There are no federal rules that is ridiculous.  If this person is in training he has already gone through extensive training about the legal reasons of privacy etc. Honestly customers treat bank employees like they are the plague but are wishy washy when they find out deregulated policys  are in the midst of being changed. And they have a say but do nothing. I doubt "Joe" is about to use any info against your Mother.

[Yardlie]

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@AngusandBuddhasMom wrote:

I spoke with my DD who herself is a Senior financial adviser on her IT security & fraud team and she said the employee Joe should be in the room as a bank employee. If you felt that Joe had some sort of nefarious reason of being there then you should have told the personal banker and manager.  They would have both explained why Joe was there and that he is not out to harm your Mom's money.

There are no federal rules that is ridiculous.  If this person is in training he has already gone through extensive training about the legal reasons of privacy etc. Honestly customers treat bank employees like they are the plague but are wishy washy when they find out deregulated policys  are in the midst of being changed. And they have a say but do nothing. I doubt "Joe" is about to use any info against your Mother.

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Then when we customers start pulling money out of a bank because we cannot have privacy with our "personal" bankers, the banks will have nothing to squawk about...and then watch how quickly other banks start putting privacy rules in place...even though there may not be Federal privacy rules for this situation.

I've already discussed this situation with my mother's personal banker yesterday. She apologized and said that it was her fault that she did not send Joe out of the room once my mother and I both raised objections. I explained that we could not discuss the "core" issue with Joe sitting there. We were going to make some changes in her accounts due to personal things going on with my mother. These things are nobody else's business. This is a small town, and we do not want talk while maybe Joe is sitting in a bar after work discussing the day with his buddies.

We set up another appointment with this banker after she guaranteed us absolute privacy, but I let her know that my mother was about one inch away from pulling her money out of this bank. My mother grew up during the Great Depression and is not real trustworthy of banks anyway.

[AngusandBuddhasMom]

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@Yardlie wrote:

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@AngusandBuddhasMom wrote:

I spoke with my DD who herself is a Senior financial adviser on her IT security & fraud team and she said the employee Joe should be in the room as a bank employee. If you felt that Joe had some sort of nefarious reason of being there then you should have told the personal banker and manager.  They would have both explained why Joe was there and that he is not out to harm your Mom's money.

There are no federal rules that is ridiculous.  If this person is in training he has already gone through extensive training about the legal reasons of privacy etc. Honestly customers treat bank employees like they are the plague but are wishy washy when they find out deregulated policys  are in the midst of being changed. And they have a say but do nothing. I doubt "Joe" is about to use any info against your Mother.

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Then when we customers start pulling money out of a bank because we cannot have privacy with our "personal" bankers, the banks will have nothing to squawk about...and then watch how quickly other banks start putting privacy rules in place...even though there may not be Federal privacy rules for this situation.

I've already discussed this situation with my mother's personal banker yesterday. She apologized and said that it was her fault that she did not send Joe out of the room once my mother and I both raised objections. I explained that we could not discuss the "core" issue with Joe sitting there. We were going to make some changes in her accounts due to personal things going on with my mother. These things are nobody else's business. This is a small town, and we do not want talk while maybe Joe is sitting in a bar after work discussing the day with his buddies.

We set up another appointment with this banker after she guaranteed us absolute privacy, but I let her know that my mother was about one inch away from pulling her money out of this bank. My mother grew up during the Great Depression and is not real trustworthy of banks anyway.

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Do what you want all banks are the same. A lot of your verbiage is written to enforce your narrative and we have to take your word a to what the banker said. You are so insulting to think that "Joe" is going to go run and tell your Mothers intimate stories. I would not want to be your banker since you came in with a chip on your shoulder towards the bank and a unfounded distrust of its employees. You seem to look down on them as if they are all untrustworthy gossipers or thieves. Again banking regulations happen because the consumer allows it through their votes. So maybe your mom should keep her stash under her mattress. FYI, Bank employees would get fired on the spot for talking about customers business. Seriously this isn't a TV show. 

[sunshine45]

there is probably nothing to stop the "personal banker" from discussing the situation with the trainee AFTER the client/customer leaves. again, how is the trainee supposed to learn if he/she doesnt get the experience?  it has to come from someone and somewhere. if you trust your bank, you should be able to trust every single person who works there, otherwise, you should probably move your money/investments.