Banks are hiding your privacy choices from you and adding lots of friction if you want to opt-out -- but you still should!

The fact that they make it so hard to opt-out is an indicator of how valuable this information is to them. This is the Bank of America edition -- stay tuned for future posts about other banks.

Banks and financial services companies have a LOT of sensitive information about us: our names, DOBs, SSNs, physical addresses, mailing addresses, phone numbers, emails, and family members (beneficiaries). They report to the credit agencies when you open accounts and if you’re delinquent on loan payments (i.e. credit cards).

They also have insight into …