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Valued Contributor
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Registered: ‎09-08-2016

Re: Questions Regarding Banking Privacy


@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.


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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Registered: ‎05-10-2010

Re: Questions Regarding Banking Privacy


@Maudelyn wrote:

@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.


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. 


 

      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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Re: Questions Regarding Banking Privacy

Usually when there is a third party in the room, the choice is given whether you want them to stay or not.  If you didn't feel comfortable with that person in the room, you should have told the banker that you didn't want to discuss anything with him/her in the room.

 

Bankers deal with a lot of personal, confidential information.  That's part of their job.

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Re: Questions Regarding Banking Privacy


@Chrystaltree wrote:

@Maudelyn wrote:

@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.


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. 


 

      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. 


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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Registered: ‎11-25-2011

Re: Questions Regarding Banking Privacy

People are r.e.a.l.l.y. trying to make a HIPAA tie-in, but you can't.

There are no regulations like that for banking.

 

Consumer banking, retail banking...whatever you call it...

at the end of the day, a consumer banker is a 'salesperson.'

They are trained to know their Bank's products & they try to

sell you said products.  It's retail.

 

Like I said upthread, this particular OP situation

is a Customer Service issue...not a regulation issue.  

In a retail setting, customer service is king.

Having the trainee leave is much like...getting the customer coffee.

If requested, you do what it takes to make the consumer happy.

 

As a sidenote....I'm surprised there was an office w/ a door.

These days, the footprint of a banking center is very open

with cubicles and no doors.

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Re: Questions Regarding Banking Privacy


@Oostende wrote:

You're doing business with a bank, not a person.  The bank has different representatives, all of whom are required to keep your information confidential.

The tellers have acess to all of your information and so does every platform person.  It only makes sense.  If a person is ill one day, another person needs to be able to handle your business.

No one cares how you handle your money.  The figures are just numbers on a screen and bankers see thousands of them in a day.


I disagree. The same thing could be said about a medical facility. One could say that people's bodies are just machines and that doctors see many of them every day. People are entitled to privacy...especially when we requested it twice.

 

At this bank, if your personal banker is ill one day, you are called and asked to reschedule. They take personal banking seriously. We get both statements and phone calls from our personal banker when a CD is maturing, when our safety deposit box fees are due, etc. This is why it was so surprising that they think they could just have someone sit in and observe a conversation. As I said, we never got to the root of the conversation, as we did not want this third party present. Maybe things are different in large cities, but this is a very small town.

A kind gesture can reach a wound that only compassion can heal. ~~ Steve Maraboli
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Registered: ‎03-10-2010

Re: Questions Regarding Banking Privacy


@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.


@Chrystaltree ... You are right. When I got home, I was kicking myself for not insisting that the observer leave the room. Now I have to set up another appointment and take my mother out again, which is no easy task when you are dealing with a 92 y.o. This time I will let the banker know in advance that we do not want observers and did not appreciate the observer at our last visit. They often have some agency call for feedback after a visit to the bank. I'm hoping that happens this time. We can't be the only ones who feel this way.

A kind gesture can reach a wound that only compassion can heal. ~~ Steve Maraboli
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Re: Questions Regarding Banking Privacy

[ Edited ]

@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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Re: Questions Regarding Banking Privacy


@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. 


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.

A kind gesture can reach a wound that only compassion can heal. ~~ Steve Maraboli
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Re: Questions Regarding Banking Privacy

I'd of made her comfortable and ask that the other party not be present.

 

I had an experience like that but it was a phone call- I asked said person was I on speaker phone- why yes I have someone in my office training.   I said, "If you want this conversation to continue then I suggest you take me off speaker phone and until then you can consider this call over.  He did and our call went on plus I told him that what was said between us was private... now how far that went who knows..  I did add at the end of our conversation, the next time you decide to put someone on speaker phone with someone else present, you'd better tell the person on the other end. 

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