Chime updated its privacy notice with mostly minor edits, but made one material change: it now states it does NOT share information with other financial companies for joint marketing purposes, where it previously indicated it did. The notice also removed language stating that The Bancorp does share personal information with affiliates for everyday business purposes. These changes narrows what data The Bancorp says it shares with third parties.
The updated notice states Chime no longer shares your personal information (such as transaction history and creditworthiness) with other financial companies for joint marketing purposes. This is a narrowing of third-party data sharing compared to the prior language. The notice also clarifies that Chime does not share certain affiliate information, which may further limit how your data is used by related companies. These changes reduce the scope of data sharing disclosed in the privacy notice.
The updated notice narrows the scope of data sharing that The Bancorp discloses to consumers, specifically removing statements about joint marketing with other financial companies and affiliate sharing of transaction and creditworthiness data. This change either reflects a reduction in actual data-sharing practices (which benefits consumer privacy) or represents a disclosure gap that may expose The Bancorp to regulatory scrutiny under GLBA and FTC Act requirements.
→ Review the updated privacy notice to understand the current scope of data sharing.
→ Contact Chime customer service if you have questions about whether your data continues to be shared with financial companies or affiliates not mentioned in the updated notice.
→ You may be unaware that your transaction history and credit information is no longer shared with affiliated companies, or conversely, that sharing continues despite the updated disclosure.
→ If you previously opted out of sharing based on the old notice, you may not know whether the updated practices require you to take new action.
Updated to state The Bancorp does not share customer information with other financial companies for joint marketing, removing a previously disclosed sharing practice.
Updated to state The Bancorp does not share transaction history and creditworthiness information with affiliates, narrowing the scope of affiliate data sharing.
This change record describes what was added, removed, or modified in the document. Analysis reflects what the updated agreement states or permits. It does not constitute a legal determination about enforceability. Applicability may vary by jurisdiction. Methodology
Chime no longer discloses that it shares your data with other banks for their marketing campaigns.
Chime no longer discloses sharing your transaction history and credit information with related companies for their routine operations.
The Bancorp modified its consumer privacy notice to state it does not engage in joint marketing with other financial companies and does not share transaction or creditworthiness information with affiliates for everyday business purposes. This represents a reduction in disclosed data-sharing practices compared to the prior version. The change may reflect operational policy adjustment or clarification of prior disclosures. Organizations that rely on Chime for payment processing or consumer data handling should confirm whether these limitations affect existing data-handling agreements or vendor contracts. No new compliance obligation appears to be created; rather, the scope of permitted sharing has been narrowed.
GLBA (Gramm-Leach-Bliley Act), FTC Act Section 5 (unfair or deceptive practices)
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