Confidential Information

Re “Privacy Abuses by Banks,” editorial, June 14: I am beyond outrage at the recent revelation that several large banks (one of which is Wells Fargo, where I have been a customer for 25 years) have been selling to marketers information on their customers of the most private and personal nature.

It is beyond belief that anyone in these organizations could have seriously thought there was nothing wrong with this mind-bogglingly unethical behavior. Did they also sell this personal information on their own executives and directors? I very much doubt it. As for the statement that customers have the option of asking not to be included in this sale of information, how could any of us have done this when we didn’t know what was going on?

SHEILA KHALLADEH

North Hollywood

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Though I do not agree with the banking practice of selling information to telemarketers, the assumption that this is always done without customers’ consent is not necessarily true. When opening new bank accounts, we often sign the legal disclaimers assuming they deal with federal and state banking regulations, FDIC limitations, etc. However, most banks now include notification regarding information sharing.

Though they may be phrased in a manner to suggest customer benefits or notification of new products, these disclaimers allow banks to sell confidential information to telemarketers. When signing any legal document, always take the time to read the fine print. If you find something you do not agree with, make your feelings known to management and if not satisfied, take your business elsewhere.

J. ERIC WOMACK

Los Angeles