Will Seniors Have Their Say? Will Seniors Have Their Say?

Abington Makes The Defensive Plays, Reaches Ec Final

By CHRISTOPHER JOHNSON chrisj@leader.net
 Monday, November 13, 2000 &nbsp;&nbsp;&nbsp;&nbsp;Page: 1C 





Community banks market themselves as friendly alternatives to giant
financial institutions. &nbsp;&nbsp;&nbsp; 
 Like a good friend, they won't rat you out, local banking officials said. &nbsp;&nbsp;&nbsp; ``As a community bank, it's been our rule all along ... we don't give out
any information whatsoever on our customers,'' said Maureen M. Bufalino,
president and CEO of Wilkes-Barre-based Guaranty Bank. ``We believe in
financial privacy for our customers.'' &nbsp;&nbsp;&nbsp; 
 According to GartnerGroup Financial Services, a Durham, N.C.-based research
and consulting firm, 27 percent of large banks share customer information with
third parties, such as telemarketing firms. &nbsp;&nbsp;&nbsp; 
 But representatives at several locally based banks said they would only
give up customer information during the course of normal business - such as to
run a credit check - or under a court order. &nbsp;&nbsp;&nbsp; 
 Thomas A. McCullough, president of Tunkhannock-based Grange National Bank,
said big banks are more likely to give out customer information because their
executives have less contact with customers. &nbsp;&nbsp;&nbsp; 
 ``I live in the community where my banks are,'' McCullough said. ``The last
thing I would want to do is give out information about my neighbors.'' &nbsp;&nbsp;&nbsp; 
 Under a new federal law, banks are required to tell you if they're going to
share data - and the burden is on your to notify the bank if you don't want
the information shared. Proposed legislation that died in this session of
Congress would have reversed that situation, forcing banks to obtain customer
permission before sharing information. &nbsp;&nbsp;&nbsp; 
 If they have a Web site, banks usually post their privacy policies there. &nbsp;&nbsp;&nbsp; 
 M&amp;T Bank says it will only share customer specific information with third
parties under certain circumstances including, ``to provide products/services
that may be of interest to its customers.'' &nbsp;&nbsp;&nbsp; 
 The privacy policies at PNC and Mellon banks have essentially the same
clause. &nbsp;&nbsp;&nbsp; 
 M&amp;T spokesman Mike Zabel said the bank has an agreement with MBNA America,
the credit-card giant, whereby MBNA solicits M&amp;T customers. He did not specify
the terms of that agreement, but said customers can request that their
information not be shared. &nbsp;&nbsp;&nbsp; 
 First Union is one of the few banks whose privacy policy directly says it
does not sell customer information to outside parties. &nbsp;&nbsp;&nbsp; 
 Spokeswoman Barbara Nate said all banks, however, have to share the
information with some third-party vendors, such as companies that print check
books. Megan Kennedy, resident counsel for Hazleton-based First Federal Bank,
said banks also must pass along personal information to run a check through a
credit bureau. &nbsp;&nbsp;&nbsp; 
 Chris Johnson, a Times Leader staff writer, may be reached at 829-7226. &nbsp;&nbsp;&nbsp; 
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Your Financial Secrets Safe With Them, Several Locally Based Bank Officials Say