U.S. Bank, Bank of America Get High Marks for Privacy, Data Security

By Brian Orsak

U.S. Bank, Bank of America, National City, and Wachovia topped a list of financial institutions most trusted by consumers for privacy protection. The banks earned customer trust by adopting strong service programs and authentication procedures and by disclosing their privacy and data security practices-particularly for online banking-Traverse City, Mich.-based Ponemon Institute found in a survey of consumers issued April 16. Data security and privacy programs are coming under scrutiny following a number of widely publicized breaches, including the theft of some 45.7 million credit-card numbers from retailer TJX Cos. At least 153 million records have been compromised since January 2005,...