Industry News

Lenders should get real about privacy

Opinion: Borrower permission should be standard procedure on data-sharing
Published on Apr 30, 2004

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by CareyBot

It's high time for lenders to stop "sharing" borrowers' personal information with affiliated companies in defiance of their loud, clear and repeated indications that they dislike this practice and believe it violates their personal privacy.

Federal law allows financial institutions to utilize opt-out procedures for consumers who don't want their own name, telephone number, household income and other data to be shuffled about among other companies without their knowledge ...

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