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U.S. Bancorp Consumer Privacy Pledge
Use and Sharing of Information Within Our Affiliated Family of Banks
and Companies
Note: If you previously informed U.S. Bancorp of your request to
be excluded from such sharing of information among our affiliates, you
need not submit another request.
To provide you with superior service and inform you of product opportunities
and for other business purposes, the banks and companies affiliated with
U.S. Bancorp share information about you and your products and services
among themselves. (See Questions and Answers #1 and #2 below.)
Under the federal Fair Credit Reporting Act and other applicable law,
you have the right to prevent the sharing of certain information about
you for certain purposes. Information on how to exercise this right can
be found in the U.S. Bancorp Privacy Pledge (under the section titled
"How To Tell Us Not To Share Personal Credit Information Within U.S.
Bancorp") along with the necessary form to express your choice.
As more fully explained in the answer to Question #4 below, we are lawfully
allowed to share some information with our affiliated banks and companies
even if you request us to limit the sharing of information. It is our
practice to share this information among our affiliated banks and companies
so that we can offer you the fullest range of financial services to meet
your needs.
Use and Sharing of Information outside Our Affiliated Family of Banks
and Companies
We maintain procedures designed to protect confidential information about
you (and your products and services with us). Other than under the limited
exceptions explained here, we do not to share confidential customer information
outside our affiliated family of banks and companies. You do not need
to request this confidentiality - it is our standard practice.
The limited exceptions under which we share confidential customer information
with parties outside our affiliated family of banks and companies are
described in the answer to Question #6 below.
Questions About Our Use Of Information
- Why do you want to know about me?
- How do I benefit when you share information about me and the products and
services I have with you within your affiliated family of banks and companies?
- If I request to be excluded from information sharing among your affiliates,
will all of your affiliated banks and companies honor this request?
- If I request to be excluded from information sharing among your affiliates,
what information about me and my products and services with you will and will not be
shared within your affiliated family of banks and companies?
- Can you provide me with a few examples of information that still may be
shared within your affiliated family of banks and companies if I request to be excluded
from affiliate sharing of information?
- Under what circumstances do you provide information to parties outside
your affiliated banks and companies?
- Do you provide special treatment of information that your affiliated
trust company or bank holds as my trustee or disclosed fiduciary?
- Is it possible that one of your affiliated banks or companies may solicit
me for a product or service based on information received from an outside source?
- How can I remove my name from lists created by outside agencies and companies
that are in the business of compiling lists for purchase?
OUR INFORMATION ABOUT YOU
Question #1:
Why do you want to know about me?
Answer #1:
As disclosed in our Consumer Privacy Pledge, the information
we collect about you provides significant customer benefits. It enables us to
understand your financial needs, improve product and services, comply with laws
and regulations, provide enhanced customer service, and protect you against
fraud.
Protection - We gather information about you to protect you. We need
to be able to identify you and your products and services to prevent access
to personal and financial information by unauthorized persons.
Customer Benefits - We also gather information to help us understand your financial needs and
provide you with quality products and services. For example, if we know you
own your own home, we know that a home equity loan may be a better alternative
than an installment loan to finance your next purchase - because of better rates
and possible tax benefits.
Product Enhancements - In some cases, we gather information to help us design or improve
our products and services. For example, information
obtained from customers can tell us whether to develop a new type of home mortgage
loan or a checking account. This type of information enables us to identify
the needs of customers and provide services to meet those needs.
Comply with Law and Regulation - We gather information to comply with laws and regulations
that govern the financial services industry. For example, federal regulations
require that we obtain a Social Security number or tax identification number
for many types of accounts, such as bank deposit accounts that pay interest.
USE AND SHARING OF INFORMATION WITHIN OUR AFFILIATED FAMILY OF BANKS AND COMPANIES
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Question #2:
How do I benefit when you share information about me and my
products and services within your affiliated family of banks and companies?
Answer #2:
We provide products and services to customers through a number
of affiliated banks and companies. Our Consumer Privacy Pledge provides you
with a representative list of the U.S. Bancorp family of financial service providers
with whom your information could be shared. By allowing our affiliated banks
and companies to share information about you and your products and services
with each other, you enable us to serve your total financial needs. You may
receive our combined bank/company account statements, easier access to certain
account features, new or enhanced products, special promotional offers, and
certain discounts that you might not otherwise know about or be eligible to
receive.
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Question #3:
If I request to be excluded from information sharing among
affiliates as explained in the Consumer Privacy Pledge, will all of your affiliated
banks and companies honor this request?
Answer #3:
Yes, all of our affiliated banks and companies will honor
your request. Certain information about you and your products and services with
us still may be shared (as explained in Questions and Answers #4 and #5 below).
You cannot selectively request to be excluded on a company-by-company basis
or product-by-product basis. To provide you with better service, if we are unable
to offer you the U.S. Bancorp product you applied for, we may offer you the
opportunity to have us forward your application and related information to another
U.S. Bancorp company for a similar product.
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Question #4:
If I request to be excluded from information sharing among
your affiliates, what information about me and my products and services with
you will and will not be shared within your family of banks and companies?
Answer #4:
The Fair Credit Reporting Act and certain other laws permit
you to direct us not to share certain information within our affiliated family
- but these laws also permit us to share certain other information within our
affiliated family. Even if you "request to be excluded from affiliate sharing
of information," we will share this other information about you and your
products and services within our family in order to provide you the fullest
range of financial services, as discussed below.
Fair Credit Reporting Act
The Fair Credit Reporting Act is the primary law that covers information sharing
within our affiliated family of banks and companies. This act permits our affiliated
banks and companies to share with each other the following types of information:
identification information about you; information about your transactions with
any of our affiliated banks and companies; and information about the experiences
of any of our affiliated banks and companies with you.
However information that is categorized as "personal credit information"
cannot be shared with our affiliated banks and companies if you tell us not
to share this information. Personal credit information is information that bears
on your creditworthiness, personal characteristics, mode of living or the like
(other than identification, transactional, and experiential information described
above). When you request to be excluded from affiliate sharing of information
according to the procedures set out in the Consumer Privacy Pledge, we cannot
share this personal credit information about you.
Other Restrictive Laws
Other laws and rulings also regulate our ability to share
certain information within our affiliated family of banks and companies in particular
circumstances, or to offer you products and services in particular cases. Some
laws, for example, prohibit us from sharing certain information within our affiliated
family of banks and companies without your expressed written or oral consent
or, in a few cases, under any circumstances. Whether or not you have exercised
your choice and provided us with a request to be excluded from information sharing
among our affiliates, we, of course, abide by these laws.
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Question #5:
Can you provide me with a few examples of information that
still may be shared within your affiliated family of banks and companies if
I request to be excluded from information sharing among your affiliates?
Answer #5:
We can share identification information about you, such as
your name and address. In most cases, we also can share information about your
transactions or experiences with any of our affiliated banks and companies,
such as your loan repayment or checking account history, as permitted under
the Fair Credit Reporting Act. When we process your accounts, we can share additional
information, including personal credit information about you, solely for that
purpose. Some of our affiliated banks and companies, for example, share or receive
information in order to provide technical or operational support services -
such as to prepare your account statements or provide data processing services
- for other affiliated banks and companies.
USE AND SHARING OF INFORMATION OUTSIDE OUR AFFILIATED FAMILY OF BANKS AND COMPANIES
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Question #6:
Under what circumstances do you provide information to parties
outside your affiliated banks and companies?
Answer #6:
We are committed to protecting our confidential information
about you and your products and services with us. However, it is occasionally
necessary to provide some of this information to parties outside our affiliated
banks and companies. We may also provide certain information to third parties
for other purposes as described below.
We are required, for example, to share information about you and your products
and services with us with parties named in a lawsuit or administrative action
when we are served with a subpoena or court order. We also are required to share
this information with federal or state regulatory authorities, such as banking
examiners or the Internal Revenue Service, as authorized by federal or state
law. Consistent with the practice of other banks and financial service companies,
we also share certain information about you and your products and services with
us with reputable credit reporting agencies as authorized by federal law and
with others who may receive certain information from us under particular circumstances
- but only as lawfully permitted or required.
From time to time, we contract with parties outside our affiliated banks
and companies in order to offer you certain financial products. For example,
we may contract with insurance companies to offer you various insurance products.
Under these programs, a limited amount of information about you or your account
may be provided to the third party under an agreement requiring the third party
to keep the information confidential and not use it for any other purpose. We
do not provide account or personal information to non-U.S. Bancorp companies
for the purpose of independent telemarketing or direct mail marketing of any
non-financial products or services of those companies.
We also sometimes contract with outside agents or service providers to prepare
your account statements, enter or calculate transactions and balances, or provide
other materials or services on our behalf. These agents, service providers,
and third party product providers agree to safeguard our information about you
and your products and services with us, and must abide by applicable law.
We also occasionally decide to sell business assets or a business line. In these
cases, we may transfer to the purchaser the related customer information.
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Question #7:
Do you provide special treatment of information that your
affiliated trust company or bank holds as my trustee or disclosed fiduciary?
Answer #7:
Yes, any information about you within our trust division,
along with your trust or agency accounts, is subject to special protection -
even within our affiliated family of banks and companies. This information is
considered extremely confidential.
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Question #8:
Is it possible that one of your affiliates may solicit me
for a product or service based on information received from an outside source?
Answer #8:
Like other financial service organizations, our affiliates
sometimes purchase mailing or other lists from outside agencies or companies
that are in the business of compiling lists for purchase by others for their
independent use. These lists are compiled by such agencies and companies primarily
from public sources of information.
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Question #9:
How can I remove my name from lists created by outside agencies
and companies that are in the business of compiling lists for purchase?
Answer #9:
If you wish to have your name removed from the lists created
by outside agencies and companies, send a written request with your name, address
and Social Security number to the organizations listed below. These organizations
are responsible for notifying the agencies and companies that are in this business
of compiling lists that you wish to have your name removed from the lists they
sell. Be sure to include all versions of your name that appear in mailings or
in calls you receive. You must register your own name and address directly with
each organization listed below, because they cannot process any requests from
us.
Mail Preference Service
c/o Direct Marketing Association
P.O. Box 9008
Farmingdale, NY 11735-9008
Telephone Preference Service
c/o Direct Marketing Association
P.O. Box 9014
Farmingdale, NY 11735-9014
The Direct Marketing Association will include your name in its consumer exclusion
files so that your name may be removed from lists compiled or maintained by
the agencies and companies that are members of that organization. Your name
remains in the file for five years.
Credit Reporting Agencies
If you would like to stop credit reporting agencies from disclosing your information
to companies who want to offer you credit or other products, call the following
toll-free number and follow the instructions on the recorded message: 1-888-567-8688.
We hope that the provisions and explanations in this Use of Information section
answer most of the questions that you have about our use and sharing of information
about you. It is an important part of our continuing commitment to provide superior
service to you.
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Use of Information
The provisions and explanations in this Use of Information section apply only
to individuals or "consumer customers". These provisions and explanations
supersede all previous notices or statements with respect to the subject matter
described in this Use of Information section. We reserve the right to change
the provisions and explanations in this Use of Information section at any time.
Privacy Pledge
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