An Important Notice Concerning The Privacy of Your Personal Information
Protecting the privacy and confidentiality of our customer’s personal information is important to BPD Bank and its affiliate. We value your business and the trust you place in us. In order to offer you the financial products and services you request, we gather, maintain, and use information about you on a routine basis. To assist you in better understanding how your personal information is utilized, we are providing you with the following statement describing our policies and practices with respect to the sharing of customer information. In the event that you terminate your customer relationship with us, or become an inactive customer, we will continue to apply the privacy policy and practices described in this notice.
We collect both public and non-public personal information about you from:
· Applications or other forms received during the account opening process (such as your name, address, social security or other identifying number);
· Transactions and experiences with us (such as account balances);
· Authorized sources (such as consumer reporting agencies).
All information collected and stored by us is used for specific business purposes, such as administering your account, complying with federal and state laws and regulations, and developing a better understanding of your financial needs to provide you with improved products and services.
We may disclose public or non-public personal and financial information, about our customers or former customers with our affiliate or non-affiliated third parties as permitted by law. For example, we disclose non-public personal information about you in connection with, but not limited to, the following circumstances:
· To third parties who assist us in servicing and administering your accounts with us. Such as printing checks, loan coupon books and ATM cards;
· In response to a subpoena or similar legal process received from government entities;
· To report information to consumer reporting agencies;
· Under any other circumstances permitted by law or regulation.
We do not sell any customer information to anyone. Privacy notices that you receive from other financial institutions may contain ‘opt-out’ provisions that require you to request that your information not be shared with third parties. Please be advised that because we do not share your information with third parties, other than permitted by law, there is no need to notify us or respond to an ‘opt-out’. In addition, we are not required to provide you with an opt-out under the Fair Credit Reporting Act, as we do not share credit-related information except as allowed by law, with our affiliates.
We understand that the protection of your non-public personal information is of the utmost importance. We maintain strict procedures and policies to protect your privacy. We restrict employee access to customer information to only those who have a business reason to know such information, and we educate our employees about the importance of confidentiality and customer privacy and supervise their activities. We maintain physical, electronic and procedural safeguards that comply with federal and state standards to guard your personal information. We also oversee agents and require them to agree to maintain confidentially of your nonpublic personal information