Peoples Community National Bank

Overview

This policy governs the treatment of nonpublic personal information about consumers by the bank. The rules were effective on November 13, 2000 , with compliance optional until July 1, 2001 , and implement title V, subtitle A of the Gramm-Leach-Bliley Act, 15 USC 6801.

The law enables consumers to prevent the bank from disclosing private, nonpublic personal information to third parties that are not affiliated with the bank. Banks must provide a reasonable method for consumers to opt out of disclosures to nonaffiliated third parties. If the bank discloses nonpublic personal information to nonaffiliated third parties (such as an outside vendor for marketing purposes), consumers will be given a reasonable method for opting out of information sharing, such as a reply form or toll free telephone number. Consumers may exercise their opt-out option at any time. The bank will comply with a consumer's opt-out direction as soon as reasonably practicable and until the consumer revokes that direction in writing.

This policy applies only to nonpublic personal information about individuals who obtain financial products or services primarily for personal, family, or household purposes. It does not apply to information about companies or about individuals who obtain financial products or services for business, commercial, or agricultural purposes. 216.1(b)

The bank is required to give new customers accurate, clear, and conspicuous initial notices about their privacy policies, describing the conditions under which it may disclose nonpublic personal information to nonaffiliated third parties and affiliates.

The bank must also give all current customers an accurate, clear, and conspicuous annual notice of its privacy policies. Annually means at least once in any period of 12 consecutive months. In addition, if the bank's information sharing practices change, the bank may have to provide a revised notice.

Privacy notices must contain the following information:

Categories of information the bank collects;
Categories of information the bank may disclose;
Categories of affiliates and non-affiliates to which the bank gives nonpublic personal information;
The consumer's right to opt out; and
Any disclosures made under the Fair Credit Reporting Act.

PCNB does not allow disclosure of nonpublic personal information to affiliates or unaffiliated third parties, except under the exceptions allowed by the law, a simplified notice may be used, if it contains the following information:

Describes the categories of nonpublic personal information the bank collects;
States the fact that the bank does not share nonpublic personal information about its customers or former customers to affiliates or nonaffiliated third parties, except as authorized by law; and
Describes the bank's policies and practices for protecting the confidentiality and security of consumer's nonpublic personal information.

Exceptions allow transfers of nonpublic personal information to unaffiliated third parties to process and service a consumer's transaction and to facilitate other normal business transactions. For example, consumers cannot opt out when nonpublic personal information is shared with a nonaffiliated third party to:

Market the bank's own financial products or services;
Market financial products or services offered by two financial institutions (joint marketing);
Process and service transactions the consumer requests or authorizes;
Protect against potential fraud or unauthorized transactions;
Respond to judicial process; or
Comply with federal, state, or local legal requirements.

Policy Statement

The bank is committed to protecting the privacy of its customers' personal information. It is the policy of the bank to comply with all requirements of the regulation and to give privacy notices to all new customers at the time an account is opened, and an annual notice at least once every 12 months thereafter. The bank does not disclose nonpublic personal information about individuals to non-affiliated third parties unless authorized by law or by consumer request or authorization.

Definitions
216.3

Consumer means an individual who obtains or has obtained a financial product or service from the bank that is to be used primarily for personal, family, or household purposes.

Customer means a consumer who has a customer relationship with the bank.

Customer Relationship means a continuing relationship between a consumer and the bank under which the bank provides one or more financial products or services to the consumer that are used primarily for personal, family, or household purposes, including, but not limited to, deposit accounts and consumer purpose loans.

Note: If a consumer uses the bank's ATM to withdraw cash from an account at another bank, that consumer does not have a continuing relationship with the bank. In addition, if a consumer merely purchases a cashiers check or a money order at the bank, that does not constitute a customer relationship.

Non-affiliated third party means any person except:

an affiliate of the bank; or
a person employed jointly by the bank and any company that is not your affiliate; however, a non-affiliated third party includes the other company that jointly employs the person.

A non-affiliated third party includes any company that is an affiliate solely by virtue of the bank's or any bank affiliate's direct or indirect ownership or control of the company in conducting merchant banking or investment banking activities.

Nonpublic personal information means personally identifiable financial information and any list, description, or other grouping of consumers (and publicly available information pertaining to them) that is derived using any personally identifiable financial information that is not publicly available.

Nonpublic personal information includes any list of individuals' names and street addresses that is derived in whole or in part using personally identifiable financial information that is not publicly available, such as account numbers.

Personally identifiable financial information means any information a consumer provides to the bank to obtain a financial product or service. This includes the following:

information a consumer provides on an application to obtain a loan, credit card, or other financial product or service;
account balance information, payment history, overdraft history, and credit or debit card purchase information;
the fact that an individual is or has been one of the bank's customer's or has obtained a financial product or service from the bank;
any information about the consumer if it is disclosed in a manner that indicates that the individual is or has been the bank's customer;
any information that a consumer provides to the bank or that the bank otherwise obtains in connection with collecting on a loan or servicing a loan;
any information that the bank collects through an Internet “cookie” (an Internet information collecting device from a web server); and
any information from a consumer report.

Information that does not identify a consumer, such as aggregate information or blind data that does not contain personal identifiers such as account numbers, names, or addresses is not considered personally identifiable financial information.

Publicly available information means any information that the bank has a reason to believe is lawfully made available to the general public from:

Federal, state, or local government records (including real estate records and security interest filings);
Widely distributed media (telephone books, newspapers, websites, etc); or
Disclosures to the general public that was required to be made by federal, state, or local law.

INITIAL PRIVACY NOTICE

Peoples Community National Bank will provide a clear and conspicuous notice that accurately reflects the bank's privacy policies and practices to customers , not later than when a customer relationship is established, and to consumers , before the bank discloses any nonpublic personal information about the consumer to any non-affiliated third party.

The initial notice may be hand delivered at the time an account is opened or a loan is made, or mailed, if the transaction is not conducted in-person.

A notice to a consumer is only required if the bank has a customer relationship with the consumer, and the bank does not disclose any nonpublic personal information about the consumer to a non-affiliated third party.

A customer relationship (see definition above) is established between the bank and the consumer when the consumer opens a deposit account, obtains a loan, opens an investment account, purchases an insurance product, or obtains any other financial product or service.
216.4

Notices for Existing Customers

When an existing customer obtains a new financial product or service from the bank that is to be used primarily for personal, family, or household purposes, a new privacy notice is not required to be given if the initial, revised, or annual notice that the bank most recently provided to that customer was accurate with respect to the new financial product or service. 216.4(d)

Revised Notice

The bank may not change any of its privacy policies and disclose any nonpublic personal information without providing consumers with a revised privacy notice that 1.) accurately describes the new policies and practices, 2.) provides a new opt-out notice, 3.) gives the consumers a reasonable period of time to opt out of the disclosure before the bank discloses information to a non-affiliated third party, 4.) and the consumer(s) does not opt out. 216.8

ANNUAL PRIVACY NOTICE

The bank must provide a clear and conspicuous notice to customers that accurately reflect the bank's privacy policies and practices. This notice must be given not less than annually during the continuation of a customer relationship. 216.5

Annually means at least once in any period of 12 consecutive months during which that relationship exists. The bank may define the 12 month period, but must apply it consistently.

Annual notices may be hand delivered, but in most cases are mailed to customers. The annual notice may be delivered electronically for particular customer(s) via the bank's web site if the customer(s) uses the web site to access financial products and services electronically and agrees to receive notices at the web site, and the bank posts the current privacy notice in a clear and conspicuous manner on the web site.

The bank is not required to provide an annual notice to former customers who no longer have a relationship with the bank.

CONTENTS OF PRIVACY NOTICES

The initial, revised, and annual privacy notices provided to customers must contain the following information, as applicable, in addition to any other information that the bank wishes to add, that applies to the bank and to the consumers to which the notices are sent: 216.6

the categories of nonpublic personal information that the bank collects;
the categories of nonpublic personal information that the bank discloses;
the categories of affiliates and nonaffiliated third parties to whom the bank discloses nonpublic personal information;
the categories of nonpublic personal information about the bank's former customers that the bank discloses, and the categories of affiliates and non-affiliated third parties to whom the bank discloses nonpublic personal information about its former customers;
if the bank discloses nonpublic personal information to non-affiliated third party service providers and joint marketers, a separate statement of the categories of information the bank discloses and the categories of third parties with whom the bank has contracted;
an explanation of the consumer's right to opt out of the disclosure of nonpublic personal information to non-affiliated third parties, including the method(s) by which the consumer may exercise that right at that time;
any notices regarding the ability to opt out of disclosures of information among affiliates;
the bank's policies and practices with respect to protecting the confidentiality and security of nonpublic personal information; and
a disclosure stating that the bank makes disclosures to other non-affiliated third parties as permitted by law.

EXCEPTIONS TO NOTICE AND OPT OUT REQUIREMENTS

The opt out requirements do not apply if the bank enters into a contractual agreement with a third party service provider that prohibits the third party from disclosing or using the customer information other than to carry out the purposes for which you disclosed the information to them.

In addition, the notice and opt out requirements do not apply if the bank discloses nonpublic personal information as necessary to conduct (effect), administer, or enforce a transaction that a consumer requests or authorizes, or in connection with (1) servicing or processing a financial product or service that a consumer requests or authorizes; (2) maintaining or servicing the consumer's account with the bank, or (3) a proposed or actual securitization, secondary market sale, or similar transaction related to a transaction of the consumer. 216.14(a)

These exceptions apply only if the bank provides the initial notice to the consumer, and if the bank enters into a contractual agreement with the third party that prohibits the third party from disclosing or using the information other than to carry out the purposes for which the bank disclosed the information. 216.13(a)

LIMITS ON DISCLOSURE OF NONPUBLIC PERSONAL INFORMATION

The bank does not disclose nonpublic personal information to non-affiliated third parties, except as permitted. However, the bank is aware that there are limits on the disclosure of nonpublic personal information to non-affiliated third parties, and will follow these limits if the bank's policy changes in the future. 216.10, 216.11, 216.12

Employee Training

The bank shall develop a training program to educate all employees regarding the requirements of this policy. Annual compliance training will be required using the online compliance system provided by Professional Bank Services.

Board Review

The Peoples Community National Bank's Board of Directors will review this policy annually. Any additions or amendments deemed necessary will be made at that time.

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		.
	*Overview* This policy governs the treatment of nonpublic personal information about consumers by the bank. The rules were effective on November 13, 2000 , with compliance optional until July 1, 2001 , and implement title V, subtitle A of the Gramm-Leach-Bliley Act, 15 USC 6801. The law enables consumers to prevent the bank from disclosing private, nonpublic personal information to third parties that are not affiliated with the bank. Banks must provide a reasonable method for consumers to opt out of disclosures to nonaffiliated third parties. If the bank discloses nonpublic personal information to nonaffiliated third parties (such as an outside vendor for marketing purposes), consumers will be given a reasonable method for opting out of information sharing, such as a reply form or toll free telephone number. Consumers may exercise their opt-out option at any time. The bank will comply with a consumer's opt-out direction as soon as reasonably practicable and until the consumer revokes that direction in writing. This policy applies only to nonpublic personal information about individuals who obtain financial products or services primarily for personal, family, or household purposes. It does not apply to information about companies or about individuals who obtain financial products or services for business, commercial, or agricultural purposes. 216.1(b) The bank is required to give new customers accurate, clear, and conspicuous initial notices about their privacy policies, describing the conditions under which it may disclose nonpublic personal information to nonaffiliated third parties and affiliates. The bank must also give all current customers an accurate, clear, and conspicuous annual notice of its privacy policies. Annually means at least once in any period of 12 consecutive months. In addition, if the bank's information sharing practices change, the bank may have to provide a revised notice. Privacy notices must contain the following information: Categories of information the bank collects; Categories of information the bank may disclose; Categories of affiliates and non-affiliates to which the bank gives nonpublic personal information; The consumer's right to opt out; and Any disclosures made under the Fair Credit Reporting Act. PCNB does not allow disclosure of nonpublic personal information to affiliates or unaffiliated third parties, except under the exceptions allowed by the law, a simplified notice may be used, if it contains the following information: Describes the categories of nonpublic personal information the bank collects; States the fact that the bank does not share nonpublic personal information about its customers or former customers to affiliates or nonaffiliated third parties, except as authorized by law; and Describes the bank's policies and practices for protecting the confidentiality and security of consumer's nonpublic personal information. Exceptions allow transfers of nonpublic personal information to unaffiliated third parties to process and service a consumer's transaction and to facilitate other normal business transactions. For example, consumers cannot opt out when nonpublic personal information is shared with a nonaffiliated third party to: Market the bank's own financial products or services; Market financial products or services offered by two financial institutions (joint marketing); Process and service transactions the consumer requests or authorizes; Protect against potential fraud or unauthorized transactions; Respond to judicial process; or Comply with federal, state, or local legal requirements. Policy Statement The bank is committed to protecting the privacy of its customers' personal information. It is the policy of the bank to comply with all requirements of the regulation and to give privacy notices to all new customers at the time an account is opened, and an annual notice at least once every 12 months thereafter. The bank does not disclose nonpublic personal information about individuals to non-affiliated third parties unless authorized by law or by consumer request or authorization. Definitions 216.3 Consumer means an individual who obtains or has obtained a financial product or service from the bank that is to be used primarily for personal, family, or household purposes. Customer means a consumer who has a customer relationship with the bank. Customer Relationship means a continuing relationship between a consumer and the bank under which the bank provides one or more financial products or services to the consumer that are used primarily for personal, family, or household purposes, including, but not limited to, deposit accounts and consumer purpose loans. Note: If a consumer uses the bank's ATM to withdraw cash from an account at another bank, that consumer does not have a continuing relationship with the bank. In addition, if a consumer merely purchases a cashiers check or a money order at the bank, that does not constitute a customer relationship. Non-affiliated third party means any person except: an affiliate of the bank; or a person employed jointly by the bank and any company that is not your affiliate; however, a non-affiliated third party includes the other company that jointly employs the person. A non-affiliated third party includes any company that is an affiliate solely by virtue of the bank's or any bank affiliate's direct or indirect ownership or control of the company in conducting merchant banking or investment banking activities. Nonpublic personal information means personally identifiable financial information and any list, description, or other grouping of consumers (and publicly available information pertaining to them) that is derived using any personally identifiable financial information that is not publicly available. Nonpublic personal information includes any list of individuals' names and street addresses that is derived in whole or in part using personally identifiable financial information that is not publicly available, such as account numbers. Personally identifiable financial information means any information a consumer provides to the bank to obtain a financial product or service. This includes the following: information a consumer provides on an application to obtain a loan, credit card, or other financial product or service; account balance information, payment history, overdraft history, and credit or debit card purchase information; the fact that an individual is or has been one of the bank's customer's or has obtained a financial product or service from the bank; any information about the consumer if it is disclosed in a manner that indicates that the individual is or has been the bank's customer; any information that a consumer provides to the bank or that the bank otherwise obtains in connection with collecting on a loan or servicing a loan; any information that the bank collects through an Internet “cookie” (an Internet information collecting device from a web server); and any information from a consumer report. Information that does not identify a consumer, such as aggregate information or blind data that does not contain personal identifiers such as account numbers, names, or addresses is not considered personally identifiable financial information. Publicly available information means any information that the bank has a reason to believe is lawfully made available to the general public from: Federal, state, or local government records (including real estate records and security interest filings); Widely distributed media (telephone books, newspapers, websites, etc); or Disclosures to the general public that was required to be made by federal, state, or local law. INITIAL PRIVACY NOTICE Peoples Community National Bank will provide a clear and conspicuous notice that accurately reflects the bank's privacy policies and practices to customers , not later than when a customer relationship is established, and to consumers , before the bank discloses any nonpublic personal information about the consumer to any non-affiliated third party. The initial notice may be hand delivered at the time an account is opened or a loan is made, or mailed, if the transaction is not conducted in-person. A notice to a consumer is only required if the bank has a customer relationship with the consumer, and the bank does not disclose any nonpublic personal information about the consumer to a non-affiliated third party. A customer relationship (see definition above) is established between the bank and the consumer when the consumer opens a deposit account, obtains a loan, opens an investment account, purchases an insurance product, or obtains any other financial product or service. 216.4 Notices for Existing Customers When an existing customer obtains a new financial product or service from the bank that is to be used primarily for personal, family, or household purposes, a new privacy notice is not required to be given if the initial, revised, or annual notice that the bank most recently provided to that customer was accurate with respect to the new financial product or service. 216.4(d) Revised Notice The bank may not change any of its privacy policies and disclose any nonpublic personal information without providing consumers with a revised privacy notice that 1.) accurately describes the new policies and practices, 2.) provides a new opt-out notice, 3.) gives the consumers a reasonable period of time to opt out of the disclosure before the bank discloses information to a non-affiliated third party, 4.) and the consumer(s) does not opt out. 216.8 ANNUAL PRIVACY NOTICE The bank must provide a clear and conspicuous notice to customers that accurately reflect the bank's privacy policies and practices. This notice must be given not less than annually during the continuation of a customer relationship. 216.5 Annually means at least once in any period of 12 consecutive months during which that relationship exists. The bank may define the 12 month period, but must apply it consistently. Annual notices may be hand delivered, but in most cases are mailed to customers. The annual notice may be delivered electronically for particular customer(s) via the bank's web site if the customer(s) uses the web site to access financial products and services electronically and agrees to receive notices at the web site, and the bank posts the current privacy notice in a clear and conspicuous manner on the web site. The bank is not required to provide an annual notice to former customers who no longer have a relationship with the bank. CONTENTS OF PRIVACY NOTICES The initial, revised, and annual privacy notices provided to customers must contain the following information, as applicable, in addition to any other information that the bank wishes to add, that applies to the bank and to the consumers to which the notices are sent: 216.6 the categories of nonpublic personal information that the bank collects; the categories of nonpublic personal information that the bank discloses; the categories of affiliates and nonaffiliated third parties to whom the bank discloses nonpublic personal information; the categories of nonpublic personal information about the bank's former customers that the bank discloses, and the categories of affiliates and non-affiliated third parties to whom the bank discloses nonpublic personal information about its former customers; if the bank discloses nonpublic personal information to non-affiliated third party service providers and joint marketers, a separate statement of the categories of information the bank discloses and the categories of third parties with whom the bank has contracted; an explanation of the consumer's right to opt out of the disclosure of nonpublic personal information to non-affiliated third parties, including the method(s) by which the consumer may exercise that right at that time; any notices regarding the ability to opt out of disclosures of information among affiliates; the bank's policies and practices with respect to protecting the confidentiality and security of nonpublic personal information; and a disclosure stating that the bank makes disclosures to other non-affiliated third parties as permitted by law. EXCEPTIONS TO NOTICE AND OPT OUT REQUIREMENTS The opt out requirements do not apply if the bank enters into a contractual agreement with a third party service provider that prohibits the third party from disclosing or using the customer information other than to carry out the purposes for which you disclosed the information to them. In addition, the notice and opt out requirements do not apply if the bank discloses nonpublic personal information as necessary to conduct (effect), administer, or enforce a transaction that a consumer requests or authorizes, or in connection with (1) servicing or processing a financial product or service that a consumer requests or authorizes; (2) maintaining or servicing the consumer's account with the bank, or (3) a proposed or actual securitization, secondary market sale, or similar transaction related to a transaction of the consumer. 216.14(a) These exceptions apply only if the bank provides the initial notice to the consumer, and if the bank enters into a contractual agreement with the third party that prohibits the third party from disclosing or using the information other than to carry out the purposes for which the bank disclosed the information. 216.13(a) LIMITS ON DISCLOSURE OF NONPUBLIC PERSONAL INFORMATION The bank does not disclose nonpublic personal information to non-affiliated third parties, except as permitted. However, the bank is aware that there are limits on the disclosure of nonpublic personal information to non-affiliated third parties, and will follow these limits if the bank's policy changes in the future. 216.10, 216.11, 216.12 Employee Training The bank shall develop a training program to educate all employees regarding the requirements of this policy. Annual compliance training will be required using the online compliance system provided by Professional Bank Services. Board Review The Peoples Community National Bank's Board of Directors will review this policy annually. Any additions or amendments deemed necessary will be made at that time. Return to Top






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