Consumer complaint received 2024-01-15 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: KEYCORP
State: IN

Complaint narrative:
I have Demanded several times that I want to Opt out of Key Bank using my information. They have continued to ignore me I have sent them an opt out letter last year and have yet to hear back from them. They have taken my private information and furnished to XXXX XXXX which is a third party, That I did not contract with. The have violated my rights in pursuant to the privacy act of 1974 and pursuant to : 16 CFR 313.7 - Form of opt out notice to consumers ; opt out methods.

* 313.7 Form of opt out notice to consumers ; opt out methods.

( a ) ( 1 ) Form of opt out notice.Ifyouare required to provide an opt out notice under 313.10 ( a ), youmust provide a clear and conspicuous notice to each ofyourconsumers that accurately explains the right to opt out under that section. The notice must state : ( i ) Thatyoudisclose or reserve the right to disclosenonpublic personal informationaboutyourconsumer to anonaffiliated third party ; ( ii ) That the consumer has the right to opt out of that disclosure; and ( iii ) A reasonable means by which the consumer may exercise the opt out right.

( f ) Continuing right to opt out.A consumer may exercise the right to opt out at any time.

15 U.S. Code 6801 - Protection of nonpublic personal information a ) Privacy obligation policy It is the policy of theCongressthat eachfinancial institutionhas an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customersnonpublic personal information.

b ) Financial institutions safeguards In furtherance of the policy in subsection ( a ), each agency or authority described insection 6805 ( a ) of this title, other than the Bureau ofConsumerFinancial Protection, shall establish appropriate standards for thefinancial institutionssubject to their jurisdiction relating to administrative, technical, and physical safeguards ( 1 ) to insure the security and confidentiality of customer records and information ; ( 2 ) to protect against any anticipated threats or hazards to the security or integrity of such records ; and ( 3 ) to protect against unauthorized access to or use of such records or information which could result in substantial harm or inconvenience to any customer.

15 U.S. Code 6802 - Obligations with respect to disclosures of personal information ( a ) Notice requirements Except as otherwise provided in this subchapter, afinancial institutionmay not, directly or through anyaffiliate, disclose to anonaffiliated third partyanynonpublic personal information, unless suchfinancial institutionprovides or has provided to theconsumera notice that complies withsection 6803 of this title.

( b ) Opt out ( 1 ) In general Afinancial institutionmay not disclosenonpublic personal informationto anonaffiliated third partyunless ( A ) suchfinancial institutionclearly and conspicuously discloses to theconsumer, in writing or in electronic form or other form permitted by the regulations prescribed undersection 6804 of this title, that such information may be disclosed to such third party ; ( B ) theconsumeris given the opportunity, before the time that such information is initially disclosed, to direct that such information not be disclosed to such third party ; and ( C ) theconsumeris given an explanation of how theconsumercan exercise that nondisclosure option.

17 CFR 240.15c1-2 - Fraud and misrepresentation.

240.15c1-2 Fraud and misrepresentation.

( a ) The termmanipulative, deceptive, or other fraudulent device or contrivance, as used insection15 ( c ) ( 1 ) of the Act ( section 2,52 Stat. 1075 ; 15 U.S.C. 78o ( c ) ( 1 ), is hereby defined to include any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.

( b ) The termmanipulative, deceptive, or other fraudulent device or contrivance, as used insection15 ( c ) ( 1 ) of the Act, is hereby defined to include any untrue statement of amaterialfact and any omission to state amaterialfact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading, which statement or omission is made with knowledge or reasonable grounds to believe that it is untrue or misleading. 
( c ) Thescopeof thissectionshall not be limited by any specific definitions of the term manipulative, deceptive, or other fraudulent device or contrivance contained in other rules adopted pursuant tosection15 ( c ) ( 1 ) of the act.

Company response to consumer: Closed with explanation