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Alert-------Incorrect Identification “I wanted to bring to the attention of your readers an unethical, and likely illegal, practice that has recently popped up again. This has happened to Pacific Capital Bank (aka SBBT) in the past as well. The practice is going into a public info data site (i.e. UCC Filings) and pulling up transaction info under a particular lender as a lead source. This of course is not illegal. “However, it has come to our attention that a broker has obtained leads and then called those lessees to prospect for new business by identifying themselves and claiming to represent Santa Barbara Bank & Trust. This is obviously both unethical and illegal. “We have put the broker on notice that making statements that you know to be untrue or misleading in this context is an unlawful, unfair and fraudulent business practice pursuant to Business and Professions code sections 17200 and 17500. If anyone continues to contact Pacific Capital Bank and/or Santa Barbara Bank & Trust's customers and make false and misleading statements regarding the relationship with the Bank, we will have no choice but to bring legal action against them seeking damages as well as injunctive relief. “Kit, it is important for our industry to police itself regarding unfair and unethical business practices or we will quickly become government regulated. A regulated business environment is both restrictive and expensive and would undoubtedly drive many out of business. We all have an obligation to maintain the integrity of the industry that earns us a decent living.” Best regards, Paul Paul J. Menzel, CLP PACIFIC CAPITAL BANCORP
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