accutinting | 04-24-2012 10:40 PM | OK so here's my deal with one of my banks that a friend works at. He brought the paper over that showed me at least there policy but I would think it would be all financial companies. I knew some of this before and this is why you need to read fine print and DO NOT sign everywhere they tell you to because more then likely your allowing them to share your info
"FEDERAL LAW GIVES CONSUMERS THE RIGHT TO LIMIT SOME BUT NOT ALL SHARING" This is the only one I can not opt out of for sharing and its always the same, here is quote on why "information thats mandatory to maintain your account, respond to court orders and legal investigations, or report to credit bureaus" you cant opt out of sharing to them/those reasons
But alot of banks also share info with other financial companies. PAYPAL UK if im correct was granted a European Union banking license so I feel it could be shared there but in the USA its not considered a bank but does have some banking limitations as how it holds our money in interest bearing checking accounts.
The above quotes are real facts, I also asked my buddy from the local bank and he said he does see paypals name all the time but has never gotten a call from them in all the years hes been there. He said he would never give them information and only gives it to LEO's and that type of field. One more thing he said is that usually paperwork is mailed or they are visited by an official if information is needed its not just a phone call and handed out over the phone.
So take this however you like but the last part being said I think clarifies that phoning the bank is bogus for info on you. I will leave it at that
Please only read this as informational, but most of the above is a fact FOR ME PERSONALLY in my area with my banks |