Most are scared of what they don't know. Originally, some hoped for an opt in requirement , so that a company could not share the information without your consent. Financial businesses complained about the costs, and they won. They have until July 2001 to give you your first opportunity to opt out, and they must do so annually. Most financial service companies such as Capital One have long had a privacy policy in place.
Most people trust their financial services companies.
We're not changing, we're letting them know. Capital One provides an 800 number for opt out and maintains its policy online . AmEx credit card and brokerage clients will receive information from each source. Financial services companies may argue that if they can't share your data, it may lead to higher prices for you and everyone else for financial products. It's probably in your interest to opt out of information sharing you don't want, but it might not help anyone if everyone did.