Notice of Financial Privacy Rights
Information We Collect
We collect information about you from the following sources:
- Information you provide us for applications or other forms
- Information about your transactions with us
- Information about your transactions with our affiliates
- Information about your transactions with other parties
- Information from a consumer reporting agency
- Information we receive through our Customer Identification Program
Information We Disclose About You
We do not disclose any information about you to anyone, except as permitted by law. Examples of this might include disclosures necessary to service your account or prevent unauthorized transactions.
The Confidentiality, Security and Integrity of Your Non-Public Personal Information
We restrict access to information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic and procedural safeguards to protect this information.
Information About Our Former Customers
We do not disclose information about former customers, except as required by law.
Policy Terminology
When used in this Privacy Policy, “we”, “our” and “us” refers to Bank of Florida. “You” and “your” refers to our clients. Our clients are defined as those consumers who have a continuing relationship with us by purchasing or holding financial products or services such as a deposit account, loan account, safe deposit box, or investment management account.
Non-public personal information is defined as information about you that we collect in connection with providing a financial product or service to you. Non-public personal information does not include information that is available from public sources such as telephone directories or government records. The term “information” in this policy is defined as non-public personal information.
An affiliate is defined as a company we own or control, a company that owns or controls us, or a company that is owned or controlled by the same company that owns or controls us. Ownership does not mean complete ownership, but means owning enough to have control.
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USA Patriot Act Customer Identification Program (CIP)
Federal regulations enacted pursuant to Section 326 of the USA PATRIOT Act require all financial institutions to verify the identity of every person who seeks to open an account with the institution. All persons are subject to the identity verification requirements even though they may be a long term customer of and well known to the institution. However, please be assured that our long term relationship and service quality during the course of our day-to-day interaction with you will NOT be compromised. We truly appreciate your business and value you as a customer.
For the purpose of the regulation, an "account" includes every formal banking relationship that entails ongoing services, dealings or transactions. Some examples are a deposit account, loan, or safe deposit box rental.
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Reliance on Others
A bank may rely on a third party to fulfill some or all of the CIP requirements, provided:
Such reliance is reasonable under the circumstances;
The other party is a financial institution regulated by a federal regulator and subject to the same CIP requirements
The other party contracts to certify annually that it has implemented its anti-money-laundering program and it will perform the CIP duties.
In these circumstances, the relying bank will not be held responsible for the failure of the other financial institution to fulfill its CIP duties. A bank may use a third party to perform its CIP duties without complying with the three conditions listed above, but the bank will remain liable for any failure of the third party to satisfy the CIP requirements applicable to the bank.
Bank of Florida may retain a copy of any document it relied upon to verify your identity.
We apologize for any inconvenience this may cause as it is our hope to ensure this processing requirement remains as transparent to you as possible. If you have any questions or concerns regarding this regulation, feel free to contact the Branch Manager, Business Banking Officer or Customer Service Representative