Doing what’s wrong for the customer: JP Morgan Chase & Co.

Do you ever get privacy policy notices from the financial institutions you deal with?  You have to according to the law.  I got one from Chase today and found the phrasing quite interesting.  Chase gave me two privacy option choices.

– Option 1:  "Even if you do tell us not to share, we may do so…as permitted by law."
– Option 2:  "Even if you do tell us not to share, we may share other types of information within our family."

To me, this says that Chase is going to try and make money off of my information in any way legally permissible.  Whether I like it or not.

This is very far from the concept of customer advocacy – defined by Forrester as "the perception on the part of consumers that the firm does what’s best for its customers, not just the firm’s own bottom line."

It seems to me that if Chase really had my best interest in mind, they’d write this policy in plain English and give me an option to truly retain my privacy.  Is 2 – 3% on all of my transactions not enough to run a business?