Consumer complaint received 2019-03-15
Company: FIRST NATIONAL BANK OF OMAHA
State: MO
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
Please notify the bank it is violatingThe Gramm-Leach-Bliley Act ( GLB Act or GLBA ) is also known as the Financial Modernization Act of 1999 repeatedly It is a United States federal law that requires financial institutions to explain how they share and protect their customers ' private information. To be GLBA compliant, financial institutions must communicate to their customers how they share the customers ' sensitive data, inform customers of their right to opt-out if they prefer that their personal data not be shared with third parties, and apply specific protections to customers ' private data in accordance with a written information security plan created by the institution. 

This bank is giving my information of to a third-party named XXXX XXXX and Im being harassed and by XXXX and XXXX XXXX who have no business contacting my work phone, or personal email. Please notify this bank they are not authorized to share my information with any other parties and owe me a contractural obligation and duty which is being breached. 

This stems from me receiving a payment from a major music distributor and attempting to buy a chain and pendant for my XXXX birthday which the seller was scamming me on the gold and diamonds etc. After filing a dispute I attempted to retrieve my cash from my account when the seller promised a refund after almost waiting 2 weeks. 

This has now prompted the bank to send XXXX XXXX which upon a XXXX review look like a endangerment to my life to say they are dealing with me for the bank. This third-party company is not a bank and should not have my information nor contact me as this is unlawful. If I were on the property of the bank causing issues then this would be expected but in the comfort of my own home after work hours aXXXX XXXX XXXX XXXX XXXX  receiving phone calls and emails at XXXX is a violation of my rights, as a consumer this is not ok for any business especially a bank to do this. 

The primary data protection implications of the GLBA are outlined its Safeguards Rule, with additional privacy and security requirements issued by the FTC 's Privacy of Consumer Financial Information Rule ( Privacy Rule ), created under the GLBA to drive implementation of GLBA requirements. The GLBA is enforced by the FTC, the federal banking agencies, and other federal regulatory authorities, as well as state insurance oversight agencies.

Customers must be notified of private information sharing between financial institutions and third parties and have the ability to opt out of private information sharing. Private information must be secured against unauthorized access. User activity must be tracked, including any attempts to access
protected records.

The GLBA requires that financial institutions act to ensure the confidentiality and security of customers ' " nonpublic personal information, '' or NPI. Nonpublic personal information includes Social Security numbers, credit and income histories, credit and bank card account numbers, phone numbers, addresses, names, and any other personal customer information received by a financial institution that is not public. The Safeguards Rule states that financial institutions must create a written information security plan describing the program to protect their customers ' information. The information security plan must be tailored specifically to the institution 's size, operations, and complexity, as well as the sensitivity of the customers ' information. 

In order to achieve GLBA compliance, the Safeguards Rule requires that financial institutions pay special attention to employee management and training, information systems, and security management in their information security plans and implementation. 

Once a GLBA non-compliance allegation is proven, the punishment can have business-altering, and even life-altering, ramifications. 

Section 5 ( a ) of the Federal Trade Commission Act ( FTC Act ) ( 15 USC 45 ) prohibits " unfair or deceptive acts or practices in or affecting commerce. '' This prohibition applies to all persons engaged in commerce, including banks.

Financial institutions found in violation face fines of {$100000.00} for each violation. Individuals in charge found in violation face fines of {$10000.00} for each violation. Individuals found in violation can be put in prison for up to 5 years. 

Deceptive Practices An act or practice is deceptive where a representation, omission, or practice misleads or is likely to mislead the consumer ; a consumer 's interpretation of the representation, omission, or practice is considered reasonable under the circumstances ; and the misleading representation, omission, or practice is material. 

Unfair Practices An act or practice is unfair where it causes or is likely to cause substantial injury to consumers ; can not be reasonably avoided by consumers ; and is not outweighed by countervailing benefits to consumers or to competition. 
Public policy, as established by statute, regulation, or judicial decisions may be considered with all other evidence in determining whether an act or practice is unfair.

Furthermore, the prohibition against UDAP not only applies to all products and services offered by banks, but to every stage and activity, from product development to the creation and rollout of marketing campaigns, and to servicing and collections. 
Therefore, particular focus should be paid to new or modified systems or products and third-party arrangements.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation