What can I do about this clause?

{'method': 'PHONE', 'recipient': '1-888-341-5000', 'difficulty': 'EASY', 'action_type': 'DELETE_DATA', 'instructions': 'Call 1-888-341-5000 and follow the menu prompts to opt out of sharing your personal information with nonaffiliated third parties for marketing purposes. Have your account information ready.', 'deadline_days': None, 'deadline_hours': None}

Which regulatory agencies enforce this type of clause?

{'agency': 'CFPB', 'reason': 'CFPB enforces GLBA opt-out requirements (12 CFR Part 1016) and oversees compliance with financial data sharing restrictions for bank customers.', 'complaint_url': 'https://www.consumerfinance.gov/complaint/'}, {'agency': 'FTC', 'reason': 'FTC enforces Section 5 of the FTC Act against deceptive or inadequate opt-out mechanisms for consumer data sharing practices.', 'complaint_url': 'https://reportfraud.ftc.gov/'}

What is the severity of this clause?

ConductAtlas classifies this Nonaffiliate Third-Party Marketing Opt-Out clause as high severity. Severity reflects the magnitude of rights affected, the breadth of users impacted, and the degree of discretion the platform retains.

Nonaffiliate Third-Party Marketing Opt-Out — Bank of America

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What it is

Bank of America shares your personal data with outside companies so those companies can market their products to you, but you can call or go online to stop this.

Consumer impact (what this means for users)

If you do not call 1-888-341-5000 or update your online preferences, Bank of America will share your personal financial information with nonaffiliated companies for their own marketing purposes.

What you can do

⚠️ These actions may provide transparency or partial mitigation but may not fully address the underlying issue. Effectiveness varies by jurisdiction and individual circumstances.

Delete Your Data

Call 1-888-341-5000 and follow the menu prompts to opt out of sharing your personal information with nonaffiliated third parties for marketing purposes. Have your account information ready.

Cross-platform context

See how other platforms handle Nonaffiliate Third-Party Marketing Opt-Out and similar clauses.

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Why it matters (compliance & risk perspective)

Your financial profile — including income, account balances, and transaction patterns — can be used by third-party marketers unless you proactively opt out by phone or online.

View original clause language

We share your personal information with nonaffiliated companies for their marketing purposes. You can limit this sharing. To limit our sharing: Call us at 1-888-341-5000 — our menu will prompt you through your choice(s), or visit us online at bankofamerica.com.

Institutional analysis (Compliance & legal intelligence)

REGULATORY FRAMEWORK: GLBA 15 U.S.C. §6802(b) requires financial institutions to provide consumers an opt-out right before sharing personal financial information with nonaffiliated third parties for marketing. The implementing regulation is 16 CFR Part 313 (FTC rule) and 12 CFR Part 1016 (CFPB rule). FTC Act Section 5 prohibits unfair or deceptive practices in connection with opt-out mechanisms. CCPA §1798.120 provides California residents a parallel right to opt out of sale or sharing of personal information.

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Applicable agencies

CFPB

CFPB enforces GLBA opt-out requirements (12 CFR Part 1016) and oversees compliance with financial data sharing restrictions for bank customers.
File a complaint →
FTC

FTC enforces Section 5 of the FTC Act against deceptive or inadequate opt-out mechanisms for consumer data sharing practices.
File a complaint →

Provision details

Document information

Document

Bank of America Privacy Notice

Entity

Bank of America

Document last updated

April 29, 2026

Tracking information

First tracked

April 27, 2026

Last verified

April 27, 2026

Record ID

CA-P-003316

Document ID

CA-D-00054

Evidence Provenance

Source URL

https://www.bankofamerica.com/privacy/consumer-privacy-notice.go

Wayback Machine

View archived versions →

SHA-256

1d4e65e734a0b2e8cc01b0312c42f36950c5e1ea1c03ab56dfa173a8ebefa627

Verified

✓ Snapshot stored ✓ Change verified

How to Cite

ConductAtlas Policy Archive
Entity: Bank of America | Document: Bank of America Privacy Notice | Record: CA-P-003316
Captured: 2026-04-27 11:40:46 UTC | SHA-256: 1d4e65e734a0b2e8…
URL: https://conductatlas.com/platform/bank-of-america/bank-of-america-privacy-notice/nonaffiliate-third-party-marketing-opt-out/
Accessed: May 2, 2026

Classification

Severity

High

Nonaffiliate Third-Party Marketing Opt-Out