[TheBank]

Our marketing department wants to purchase a mailing list to use to USPS mail postcard deposit account advertisements. The unfiltered list is long, so they have asked if it is ok to filter the list to reduce the number to make it more manageable since our bank is located in a very populated area. Options for the filter include by income, location, renter, homeowner, etc.. Are any of these filters permissible? What filters are not allowed? Is there FDIC guidance on this? What rule or reading material covers this?

[TheBank]

The available filters are age, income, gender, marital status, homeowner/renter, home value, households with children, length of residence, and year home built.

[Kimberly Boatwright, CAMS, CRCM]

There is no formal guidance on filtering. However, you must consider UDAAP, Fair Lending and Fair Banking when you utilize filters to narrow down marketing. For example using home value and income standards are a sure way to have a CRA and fair lending issue. Using Age (except for legal contract age), gender, and marital status are protected class categories which will cause fair lending and fair banking issues. In some cases using households with children could also cross the fair lending line.

NOTICE: This email message, including any attachments, is intended only for the addressee, and may contain confidential and privileged information either as protected work product or confidential client information. Any unauthorized review, use, disclosure or distribution is prohibited. If you are not the intended recipient, do not read, copy, retain, or disseminate this message or any attachment, and please contact the sender by reply e-mail or at 888.760.5646 and destroy all copies of the original message and attachments. Neither the transmission of this message or any attachment, nor any error in transmission or misdelivery shall constitute waiver of any applicable legal privilege.

THIS EMAIL AND ITS ATTACHMENTS DO NOT CONSTITUTE LEGAL ADVICE

[Author]

Posts