The annual update cycle means consumers should review this notice each year as sharing practices or opt-out mechanisms may change, and failure to notice updates could result in unknowingly consenting to new data uses.
Consumer impact
Bank of America collects highly sensitive financial data including your Social Security number, account balances, transaction history, and credit information, and shares this data with affiliated companies and nonaffiliates for marketing purposes without requiring your prior consent. Federal law limits but does not eliminate this sharing, meaning some data flows to third parties unless you actively opt out. You can limit marketing-related data sharing by calling 1-888-341-5000 or visiting the Bank of America privacy choices page to submit an opt-out request.
Applicable agencies
Consumer Financial Protection Bureau (cfpb)
Regulates consumer financial products and services. Can investigate companies for unfair, deceptive, or abusive financial practices including improper fees, billing errors, and data misuse.
Who can file: Anyone who has used a consumer financial product or service in the US
What you need: Account number or details, dates of transactions or events, description of the issue, and any supporting documents
What to expect: The company must respond within 15 days. The CFPB forwards your complaint and may use it in enforcement actions. Individual compensation is possible in some cases.
ConductAtlas Policy Archive
Entity: Bank of America | Document: Bank of America Privacy Notice | Record: CA-P-000470
Captured: 2026-03-06 19:33:25 UTC | SHA-256: 0579b728c8274563…
URL: https://conductatlas.com/platform/bank-of-america/bank-of-america-privacy-notice/annual-privacy-notice-requirement/
Accessed: April 4, 2026