Ally adds “Consent to Share Personal Information” to Service Agreement; mentions the PATRIOT act

www.ally.com/resources/pdf/bank/ally-bank-obsa.pdf

This has to do with the 314b regulations for know your customer. How it works is that once a bank signs up to the 314b database they can contact other banks to get information about a customer.

Basically like Carnage says above, it makes the banks responsible for knowing what their customers are up to.

 

CTE