Privacy Policy
Depreciation Protection Inc.
(hereinafter “DP, Inc.”) may receive information regarding Financial
Institution and or Financial Institution’s members/members (collectively “members”)
in the course of providing the services for Financial Institution described in
the Administrative Services Agreement. All information regarding Financial
Institution members supplied to DP by Financial Institution is confidential
information.
DP, Inc. agrees that all its employees,
service partners, or agents acting on behalf of DP, Inc. will keep all
confidential information in strict confidence.
DP, Inc. will use and disclose confidential information only for the
purpose of providing, and to the extent necessary to provide, the services
called for by this Agreement.
Any third party to whom DP,
Inc. discloses confidential information regarding Financial Institution members
as is reasonably necessary to provide the services called for by this Agreement
will either:
a) be an entity (such as the US Postal Service or
a taxing authority) that generally keeps information that it receives regarding
members of the public confidential, or
b) be a contracted entity that provides marketing,
printing and similar services
c) sign a written agreement that information
regarding Financial Institution’s members will be kept confidential.
DP, Inc. agrees that neither its employees,
service partners, or agents acting on DP, Inc.’s behalf will sell, give, trade,
or otherwise disseminate confidential information regarding Financial
Institution or Financial Institution’s members to any third party except as
necessary to provide the services described in this Agreement or under the following
circumstances:
a) DP, Inc. is ordered to do so by a court of
competent jurisdiction or other legal process; or
b) Disclosure of the information is necessary to
enforce DP, Inc. rights against Financial Institution or Financial Institution’s members under this
Agreement; or
c) Disclosure of the information is required by a
regulatory agency with authority to require DP, Inc. to disclose the
information.
If DP, Inc. is required to disclose
confidential information regarding Financial Institution or any Financial
Institution’s borrower by court order, other legal process or regulatory order,
DP, Inc. agrees to notify Financial Institution when it receives the request
for disclosure prior to disclosure of said information. This requirement will not apply if the court
order or other legal process orders DP, Inc. not to disclose to Financial
Institution or the Financial Institution’s borrower the fact that the
information is being sought.
DP,
Inc. will ensure that all employees and agents acting on behalf
of DP, Inc. understand
and comply with these confidentiality requirements. DP, Inc.
agrees to indemnify and hold Financial Institution harmless from any and all
claims, damages, expenses (including attorney’s fees incurred in defending any
claim), losses and liability resulting from unauthorized disclosure of
confidential information by DP, Inc. or
any employee or agent acting on its behalf.
DP, Inc. shall safeguard Financial Institution’s
electronic data and communicate and disclose fully to Financial Institution
within a reasonable amount of time within DP, Inc. detection, any breach
in security resulting in unauthorized intrusion into Financial Institution’s members
confidential information through systems maintained by DP, Inc.
DP, Inc.
shall implement security measures designed to meet the objectives of the
inter-agency guidelines for establishing safeguards for member information, 12
CFR Part 364 Appendix B, any amendments thereto, and other applicable
regulations regarding safeguarding of member and consumer information. Financial Institution has the right to
inspect, during regular business hours and upon reasonable prior notification,
the security program of DP, Inc.
DP,
Inc. also agrees to maintain physical, electronic and procedural
safeguards that comply with federal regulations or take any other appropriate
measures to guard nonpublic information to protect the confidentiality and
security of this information shared by Financial Institution pursuant to this
Agreement.
