Can a Credit Union Disclose My Records to Another?
Full Question:
I feel as though my privacy disclosure act has been breeched by our credit union. I need to know what my legal rights are concerning this. Our personal information and copies of our loan payment documents were given to a person without our permission by the Credit Union manager. What are our rights under the law for this act?
06/30/2009 |
Category: Civil Rights ยป Privacy |
State: Georgia |
#17271
Answer:
Consumers and customers have the right to opt out of having their information shared with certain third parties. The privacy notice must explain how they can do that in a reasonable manner. An individual cannot opt out if:
-a financial institution shares information with outside companies that provide essential services like data processing or servicing accounts;
-the disclosure is legally required;
-a financial institution shares customer data with outside service providers that market the financial company's products or services.
A CU may disclose nonpublic personal information about you that it collects from the following sources:
-Information it receives from you on membership and loan applications and other forms.
-Information about your transactions with the CU, its affiliates, or others.
-Information it receives from a consumer-reporting agency.
-Information obtained when verifying the information you provide on an application or other forms, such as from your current or past employers or from other institutions where you conduct financial transactions.
The answer will depend on the nature of the information disclosed, who is was disclosed to, and for what purpose. I suggest reviewing the privacy notice of the CU and the following information to determine applicability.
