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Funds Verification
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Question: When we request funds verification from another bank, we are being told that they can't verify...that there is a GLBA privacy issue. What can we do?
Answer: First, it is not prohibited by GLBA. See http://www.ibat.org/ch_letter_010501.asp . However, the other bank may be concerned about security. Therefore, you could offer to have the payor bank call you back, using a publicly listed number. In that way, they can be comfortable that this is not a fishing effort by a scam artist.
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