🟠Royal Bank Canada– Consumer Report Records, Risk & Consent Profile
Basic Info:Privacy Officer, Royal Bank of Canada
Royal Bank Plaza, 200 Bay Street, Toronto,
Ontario, Canada.
Regulator(OPC),
Privacy Contact Email DPO@rbc.com
Runs Credit Check: Hard Inquiry / Soft Inquiry
Verification Status: ⚠️ Over 1 year old
Consent Quality
🔴 Absent
- Provided application information.
- Provided a sample consent screen, not specific to the user
- Provided a sample check box, not specific to the user
- Secure e-signature not provided; no response to request.
Risk Disclosure
🔴 Absent
- No communication of risk, harm, or consequences.
- No disclosure of potential risks to the consumer, including bodily harm, humiliation, damage to reputation or relationships, loss of employment, business or professional opportunities, financial loss, identity theft, negative effects on the credit record, or damage to/loss of property.
Mandatory Notices
🔴 Absent
- No written notice of intention to obtain a consumer report provided to the consumer before requesting the report. (s. 10(2))
- Notice of intention to obtain consumer report from a consumer reporting agency for the purposes of extending credit not provided at the time of application for credit. (s. 10(3))
- Consumer not notified in writing that personal information may be shared with other credit grantors or agencies. (s. 10(5))
- Notice not clearly set forth in bold or underlined text, or letters smaller than ten-point size. (s. 10(6))
Consumer Transparency Improvements
Recommended changes were identified, but no commitment was made to implement them. The improvements included stronger technological safeguards, particularly around secure electronic signatures, to protect personal information against loss, theft, unauthorized access, disclosure, copying, use, or modification.
It was also recommended that sample consent screens should not be used to replace actual user interaction, in order to avoid confusion and ensure that consumers are providing informed, voluntary consent.
It was further recommended that consumers be clearly informed of the risks of harm and consequences associated with the collection, use, and disclosure of personal information at the time of decision, to support an informed choice.
🔍 Key Recommendations from OPC
The Commissioner recommended to banks that application forms should indicate that:
- A customer does not have the option of withdrawing consent to the bank’s disclosure of credit information to the credit bureaus.
- Banks should include a statement of purpose for the ongoing disclosure of credit information to the credit bureaus(i.e., to maintain the integrity of the credit granting system)
- The collection of name, address, date of birth, and occupation of the applicant are required by law.
📄 Supporting Documents
📣 User-Submitted Complaint
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