I got a call that started with the usual automated message, "This call is being recorded." After the person joined, I pushed the record button on my iPhone, "This call is being recorded."
They were surprised and asked why I'm recording.
I said, "You're recording, so I'm recording too."
The rep insisted that the company doesn't like this but that they will continue with the call anyway.
Anyway, I wish people took this stuff much more seriously. It always seems to boil down to, "I don't have anything to hide" type of conversations and I've never managed to convince anyone that privacy as a concept isn't about having something to hide.
How is that not two party consent?
If you and I are in a phone call (the target of the phone call located in a one-party consent jurisdiction), I can record it or you can record it without telling the other: that's one-party consent, because one of the parties of the call consents to it
At first glance that may sound pointless, but it means a third party outside the call (e.g. phone company) could not record it without one of us consenting
By notifying that the call is being recorded, that now can create two-party consent because you are still on the line (and thus implicitly agree to the recording, but as you and GGP point out that's not always considered consent enough) -- one-party consent would have been if the company on the other side of the line simply recorded the call without telling you