Opting out could help stop some of the madness. Consumers typically can check a box or phone an 800 number to prevent some types of marketing for various products and services. Otherwise, financial companies have the right to share information about you, including your credit history and where you shop, with outside companies. Many privacy policies are written at reading levels for college students, according to a study done for the Privacy Rights Clearinghouse in San Diego. Some difficult reads include notices sent by Capital One, American Express and Countrywide Loans , according to Mark Hochhauser, the readability consultant.
Notices use terms that nobody understands.
Customers tune out Not surprisingly, most customers aren't opting out. They're pitching this stuff. Some reports show that 1 percent to 5 percent of consumers nationwide are opting out now, said Beth Givens, director of the Privacy Rights Clearinghouse. And trying to opt out can be annoying. A colleague told me he had called an 800 number and wanted to opt out for his son's account as well as his own but ran into a recorded line.