The other day I was lazing on the couch going through my mail when I came across the latest and greatest Bank of America privacy policy. It was a cute little approximately 6 page pamphlet. I stared at the pages.. why was it so long? How hard is it to say what it should say (that they don't give out, or worse, sell your personal information)?
That would be because they do, in fact, give out people's information to marketers (this would be soon after the part where they say their customers privacy is their priority - ha)
we may share any of the categories of Customer Information with companies that work for us in order to provide marketing support and other services, such as a service provider that distributes marketing materials. These companies may help us to market our own products and services, or other products and services that we believe may be of interest to you. Please note that some of our own companies may provide marketing support and other services for us as well.
And other products they think may be of interest to me that aren't BofA products? I don't see them saying they don't get paid for this information.
But even more concerning to me was this:
We occasionally receive medical or health information from a customer if, for example, a customer applies for insurance from us. We also may obtain information from insurance support organizations not affiliated with Bank of America that prepare and provide reports to others as well as to us. We do not share medical or health information among our companies, except to maintain or collect on accounts, process transactions, service customer requests or perform insurance functions, to the extent permitted by law.
Great that they don't share health information outside the company (except to maintain or collect on accounts.. how is health information relevant to either?), but you'll notice the above doesn't limit them to collecting information only on people applying for insurance, it says they can collect it from outside companies, period. What is Bank of America doing collecting health information?
Inquiring minds want to know.
p.s. you can maintain some control of what information they spread about you here: www.bankofamerica.com/privacy
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