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Valued Contributor
Posts: 500
Registered: ‎09-08-2016

Re: Questions Regarding Banking Privacy

Bank employees are required to keep customer information confidential.  A bank can be sued if it mistakenly releases information, and that could include an employee talking about a customer's financial situation.

I don't think there is a federal regulation that mandates this, but an implied agreement between the customer and the bank.  A bank wouldn't be in business for long if it had employees gossiping about customers' private financial affairs.

 

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Respected Contributor
Posts: 3,111
Registered: ‎03-10-2010

Re: Questions Regarding Banking Privacy


@151949 wrote:

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!


No...for the simple reason that at the bank we go to, people are assigned to one personal banker. You always see the same one unless you request a different one. I'm going to let our personal banker know that we do not want to be in that situation again. We consider our financial situations private.

A kind gesture can reach a wound that only compassion can heal. ~~ Steve Maraboli
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Honored Contributor
Posts: 18,415
Registered: ‎11-25-2011

Re: Questions Regarding Banking Privacy

[ Edited ]

Yes, I agree if one specifically asks for someone to leave,

than as a good customer service move, the trainee should leave.  

 

But as for keeping your financial information 'private',

most everyone working in that line of business will,

and should, have access to your mother's accounts.

 

Most financial institutions have a Code of Ethics process

for their associates.  In a nutshell, associates are not to 

discuss client's financial information, but they are

on an 'as needed' basis...and training is 'as needed'.

The trainee will be briefed on the client's transaction 

after the client leaves, regardless if he/she is not in the office.

 

But again, it's a good customer service move

to have the trainee leave, if asked. 

 

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Honored Contributor
Posts: 34,892
Registered: ‎03-09-2010

Re: Questions Regarding Banking Privacy

i am sure you have the right to ask a trainee to leave or a medical student to leave, but what is going to stop your financial advisor or doctor from going over everything with him AFTER you leave so that they learn from the situation. i dont understand how they are supposed to learn if no one lets them into the meeting?

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Esteemed Contributor
Posts: 6,222
Registered: ‎10-21-2010

Re: Questions Regarding Banking Privacy

My doctor always ask if it's alright the student stays in the room. How else are people supposed to learn there job. The guys answer was unacceptable but they do need to be trained.

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Honored Contributor
Posts: 8,179
Registered: ‎03-10-2010

Re: Questions Regarding Banking Privacy

[ Edited ]

Around here the banking industry has a high turnover rate with tellers, loan processors, etc.

Are you all saying you have had the same banker (person) the whole time you banked there?

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Honored Contributor
Posts: 17,818
Registered: ‎07-03-2013

Re: Questions Regarding Banking Privacy

I don't think there is a regulation, but the banker should have honored your mother's request regardless.  The trainee shouldn't be forced on the customer when they say no.  I probably would have said, okay mom let's go and left.  I can understand your mother's feelings.  When my grandmother used to go to the bank, she'd only talk with the bank manager. 

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Respected Contributor
Posts: 2,079
Registered: ‎03-29-2010

Re: Questions Regarding Banking Privacy

Banks can't share y9ur info with third party, but nothing that prevents them from having someone shadow y9ur meeting. 

 

I 'I would have told Joe he could shadow the next customer and asked him to step outside while y9u and your mom talked to the person she wanted to see since 1that guy wasn't taking the clue. 

 

 

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Trusted Contributor
Posts: 1,325
Registered: ‎03-08-2014

Re: Questions Regarding Banking Privacy

[ Edited ]

I can really relate to your mother! While this is not through a bank, I have a nice young man who is a wonderful financial advisor. I think highly of him and he has done a good job. That same office has an insurance agent that specializes in senior medical plans and she is wonderful and has done an excellent job of getting me more coverage for less money. What I do not understand and feel uncomfortable with is the fact that every time I meet with the financial guy he always brings the insurance lady (this is usually over lunch). They are not married, or an item together. She just sits & listens and sometimes expresses her opinion on suggested options – often I do not agree with her thinking as it relates to my life. While I value the expertise of both of them in their given area, I am a very private person and feel very uncomfortable discussing my private financial matters in a group setting. I feel the same way your mother does! While I have hinted around on numerous occasions, it seems to go right over their heads. It is starting to make me feel that their sense of privacy/security of personal information may not be at a level I am comfortable accepting. I haven’t just said I do not want her there because I don’t want to be rude or damage the relationship with either while I am still working with them, but it is making me think I need to move my business elsewhere. To me, discussing my financial information and related decisions is a private matter. Also, when the annual insurance review comes and it is necessary to discuss medical info and needed prescriptions for best pricing, I also view that as highly confidential information – not to have an audience (so far she has not included him for these meetings). Am I asking too much to expect privacy and not to bring co-workers to the meetings? I was glad to see that your mother feels the same way I do….I don't feel as alone in my thinking now.

Snarky responders need not reply. Move along and share your views elsewhere.
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Honored Contributor
Posts: 24,333
Registered: ‎03-20-2010

Re: Questions Regarding Banking Privacy

@Yardlie

 

When your bank person said, "Oh Joe won't tell anyone"......,I would have replied, well if this is the way you conduct business, and won't honor my privacy request, perhaps I need to look for another bank that will.........

Animals are reliable, full of love, true in their affections, grateful. Difficult standards for people to live up to.”