News Release 1999-103 | November 9, 1999
Agencies Announce Results of Financial Institution Website Privacy Survey
Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency Office of Thrift Supervision
WASHINGTON — The four federal banking agencies today released a report on the results of a survey of Internet privacy policies of banking and thrift institutions.
The survey report, titled Interagency Financial Institution Website Privacy Survey Report, examined 314 World Wide Websites selected randomly, plus those of the 50 largest banks and thrifts with Websites. Conducted during May and July by the federal agencies that supervise the institutions, the survey examined the collection of consumer information, interactive capabilities, and privacy disclosures at these sites. The purpose of the survey was to provide an indication of the state of the industry with respect to data collection and on-line privacy disclosures.
The agencies began work on the survey in February 1999. The agencies will monitor, as appropriate, the industry's progress in responding to consumer privacy issues and complying with the new legal mandates contained in the financial services reform legislation through regular supervisory activities.
Copies of the survey report are available on the agencies' Websites.