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Responding to the recent changes in federal law, banks, insurance companies, and other financial institutions have been sending disclosures to customers explaining how they manage their customers’ information. If any institution shares information with outside companies, the notices must explain why and provide customers with the choice to opt out. It is very important that you read and understand notices. If you did not receive a privacy notice in the mail, or if you accidentally threw it away, contact the organization with which you have a financial, insurance, or investment account and ask for a copy. And remember, you can opt out of having your information provided to any third party at any time. There is no deadline for you to act. Simply ask the company what procedure to use to opt out of any information sharing program they may have. If you have questions about any company’s practices or need any reassurance on this issue, please contact them and get the information you need to ensure your comfort. The bottom line is any bank or company with whom you do business should want to do what it takes to retain your trust, because that is their most valuable asset. Plus, the explosion of identity theft cases, which damage both the customer and the company, further motivates any company to work with you to safeguard your information. Additional "Opt-out" Tips If you do not wish to receive offers of pre-approved financing or credit from other institutions, you can "opt out" of receiving such offers by calling 1-888-5-OPT-OUT. This service is offered jointly by the three credit reporting bureaus. The Direct Marketing Association offers services to help reduce the number of unwanted mail and telephone solicitations. To join their mail preference service, mail your name, home address, and signature to: Mail Preference Service, Direct Marketing Association, P.O. Box 9008, Farmingdale, NY 11735-9008. To reduce unsolicited telephone solicitations, send your name, home address, home telephone number, and signature to: Telephone Preference Service, Direct Marketing Association, P.O. Box 9014, Farmingdale, NY 11735-9014.
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