Bank not responsible when they lost customer data
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Unbelievable. News.com reports a ruling in the courts of Minnesota - since personal information was not abused by thieves who had stolen a laptop - Wells Fargo is not liable for negligence. The laptop contained unencrypted customer information including names, addresses, Social Security numbers and account numbers.
If the banks will not take extra precautions to safeguard your data (like encrypting it), then it is up to the informed consumer to do business with financial institutions who value their customer’s confidential data.
Written by MCruz on April 14th, 2006 with no comments.
Read more articles on Banks and Commentary and Identity Theft.
