Misleading Marketing Practices

In today’s competitive market, lending and other companies are consistently vying for your business. Some will do almost anything to get your attention including finding new ways to appear reputable and worthy of your business.

Some companies attempt to appear more trustworthy by leveraging the reputation of your bank without authorization. These deceptive practices often involve sending mail, text messages, or even phone calls that seem legitimate but have no connection to your bank.

Spring often brings an increase in deceptive marketing mailings within the communities we serve. In this blog post, we’ll guide you through how to identify misleading mailings, explain why you might receive them, and share practical steps to protect your identity.

How to Identify Misleading Marketing on Mail

1. Look Closely at the Envelope or Message Details:

• Check the return address or sender’s details. Ensure they match your bank’s official information, which you can find on their website or verified communication channels.

2. Examine the Fine Print:

• Often, you’ll find disclosure statements in small print, stating the sender is not affiliated with your bank. These disclaimers are key indicators of non-legitimate offers.

3. Be Wary of urgency tactics:

• Watch out for urgency tactics used to pressure you into calling before you’ve had a chance to consider your options.

Here are examples of real mailings. Please take a moment to see if you can spot the misleading marketing tactics.

Marketers for these companies have resorted to purchasing trigger leads. They use the information they gather to make their marketing materials seem legitimate. They utilize your bank’s name on their documents without having any affiliation or permission from your bank to do so.

What Are Trigger Leads?

Trigger leads are a form of consumer data sold by credit bureaus, including TransUnion, Experian, Equifax, and Innovis. When you apply for credit or a loan, your data becomes part of their “trigger leads” offerings, which lenders and insurance companies purchase to market their products. Unfortunately, these leads can lead to unsolicited mailings, calls or emails using misleading tactics.

Protecting Yourself from Trigger Leads

While trigger leads are technically legal under the Fair Credit Reporting Act (FCRA), the practice often feels invasive and opens the door to less reputable companies. Here’s how to safeguard your personal information and opt out of these sales channels:

1. Opt Out of Trigger Lists:

• Visit OptOutPrescreen.com to ensure your name and information are excluded from lists sold by credit bureaus.

• The online form is valid for five years; a permanent opt-out requires printing and mailing the request for processing.

2. Add Your Number to the National Do Not Call Registry:

• Register your phone number at donotcall.gov to stop telemarketers from contacting you. Note that registration takes 31 days to go into effect.

3. Stop Physical Mail Solicitations:

• Use DMAchoice.org, a service offered by the Association of National Advertisers (ANA), to reduce unwanted loan offers and mail advertisements. Registration costs just $2 and lasts for 10 years.

Practical Tips for Avoiding Misuse of Your Information

1. Limit Your Data Sharing:

• Reconsider providing personal data unless absolutely necessary and trust the recipient’s data practices.

2. Be Mindful Online:

• Lock down your social media accounts and avoid engaging with online quizzes or suspicious apps that may gather unnecessary data.

3. Regularly Check Your Information:

• Perform periodic searches to ensure no sensitive personal details are improperly shared online. Utilize opt-out features provided by certain data brokers when possible.

NebraskaLand Bank Can Help Protect Your Identity:

At NebraskaLand Bank, we are committed to helping our customers safeguard their personal information and maintain peace of mind. Our identity protection services are designed to provide proactive tools and resources for monitoring your financial accounts, detecting suspicious activity, and preventing fraud. From our secure Online Banking platforms to personalized advice on protecting your data, we work with you every step of the way to ensure your identity remains safe.

Trust NebraskaLand Bank to be your partner in identity protection and take the stress out of securing your personal information.

Additional Resources

If you believe your information is being misused or sold irresponsibly, consider filing a complaint with the Federal Trade Commission.