Investopedia

Continue to Site »

Financial Privacy

Filed Under » ,
Dictionary Says

Definition of 'Financial Privacy'

A term used to encompass a wide variety of privacy issues. It relates to not only the use of information within financial institutions but also externally. Full financial privacy prohibits the selling of consumers information to companies who wish to use it for telemarketing, marketing or soliciting customers without their consent.
Investopedia Says

Investopedia explains 'Financial Privacy'

It also prohibits the sharing of client information to affiliates of the institution as well. For example: A customer holds a checking account at a bank. The bank has an investment division as well as an insurance division. The bank may give information to the client about the other needs served by their external divisions, but not vice versa.

Articles Of Interest

  1.

    Identity Theft: How To Avoid It

    Don't be a victim of this disturbing crime. Get insight into how perpetrators commit this form of fraud.

  2. Identity Theft: Who To Call For Help

    If your identity is stolen, it's critical to act fast. Find out what to do if it happens.

  3. Tips For Keeping Your Financial Data Safe Online

    Find out how to protect your personal information from phishers, scammers and thieves.

  4. What does the law say about non-U.S. citizens buying stocks of U.S. companies? Are there any restrictions?

    The law is very fuzzy on the matter of who may own U.S. securities and for what purpose. The U.S. follows the common law system, which is based on precedent. It evolves to reflect changes in ...

  5. What are the differences between affiliate, associate and subsidiary companies?

    All three of these terms refer to the degree of ownership that a parent company holds in another company. In most cases, the terms affiliate and associate are used synonymously to describe a ...

  6. Should You Add A Securities License To Your Qualifications?

    Clients love planners who sell securities, but a securities license takes a lot of work. Learn if the stress and study are worth it.

  7. How To Report A Tax Cheat

    If you report a tax evader to the IRS, you could be eligible for a reward.

  8. GAAP And The IFRS Standards Convergence Efforts In 3 Substantial Areas

    Understand the specific steps that have been taken in hopes of converging the GAAP and the IFRS accounting standards, despite the philosophically and culturally based methodological differences ...

  9. How Much Will Your Taxes Rise Based On Your Salary?

    Find out how high your taxes will rise this year.

  10. Department Of Justice Sues Standard & Poor's Over Mortgage Crisis - Is Moody's Next?

    The U.S. Department of Justice sued Standard & Poor's and is seeking more than $5 billion in damages.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Winner's Curse

    Because of incomplete information, emotions or any other number of factors regarding the item being auctioned, bidders can have a difficult time determining the item's intrinsic value. As a result, the largest overestimation of an item's value ends up winning the auction.

  2. Glocalization

    A combination of the words "globalization" and "localization" used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market.

  3. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  4. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  5. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  6. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.
Trading Center