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November 10, 2009

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Banks urged to adopt principles on privacy

Wednesday, Sept. 29, 1999 | 11:03 a.m.

The American Bankers Association, the umbrella group representing small and large banks nationwide, currently has eight non-binding "privacy principles" for its members.

"Though not an official policy per se, the principles were recommended a few years ago in an effort to ensure customer privacy," said ABA spokeswoman Janet Eissenstat.

The eight ABA "privacy principles" are:

Eissenstat said the ABA principles were in addition to those of each individual bank.

"Our members recognize that one of the most important traditions (of the banking sector) is having the trust of our customers," she said. "To that end, some banks are already putting their own privacy officer in place. At the end of the day, we want to be seen coming out on the side of the customer."

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