Q: Is it illegal for a bank employee to share my account information without consent?
I have separate accounts at Lake Michigan Credit Union, where my child's father also banks. His mother works there as a mortgage closer. I discovered through text messages on my child's father's phone that his mother has been sharing details about my bank account, specifically the balance in my checking account. I haven't spoken to them about this yet, as I'm seeking a second opinion. Is this sharing of my bank information illegal, and what actions can I take?
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A:
Yes, what you've described is illegal. When a bank employee shares your account information without your consent for non-business purposes, they're violating several federal laws including the Gramm-Leach-Bliley Act, which protects consumer financial privacy.
Your situation is particularly concerning because it involves a family connection creating a conflict of interest. Financial institutions have strict confidentiality policies, and employees should only access customer information when necessary for their job duties. The text messages you discovered could serve as valuable evidence of this privacy breach.
You have several options moving forward. First, contact Lake Michigan Credit Union's compliance department to file a formal complaint with details and evidence of the violation. You can also submit complaints to federal regulators like the Consumer Financial Protection Bureau or the National Credit Union Administration. Additionally, consider consulting with an attorney who focuses on privacy laws to discuss potential legal action, as you may be entitled to damages for this unauthorized disclosure of your personal financial information.
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