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|General Deposit Account Questions||Privacy Questions|
|Electronic Funds Transfer Act|| |
What do I do if I see any inaccurate information in my statements?
These questions and answers are designed to answer questions regarding our Privacy Notice and to otherwise assist customers who express privacy concerns.
Q. Why am I receiving privacy notices from many different sources?
A. Federal law requires that all financial institutions provide detailed annual disclosures to their customers describing their policies for collecting and disclosing non-public customer information on an annual basis.
Q. For what customers/accounts do the privacy rules apply?
A. The rules apply to customers who maintain a deposit account or loan account or safe deposit box for personal, family or household purposes. The rules therefore do not apply to our commercial customers.
Q. Does Rockland Trust collect and use information on consumers who are not customers, such as non customers using your ATM and loan applicants who do not obtain loans?
A. We only obtain the information that is necessary to complete the transaction, and retain only the information that we are required by law to retain. We do not make any information available to any third party except to complete or confirm your requested transaction or upon request by you.
Q. What third party marketing arrangements are currently in place?
A. Securities are offered through LPL Financial, Member FINRA/SIPC. Insurance products are offered through LPL Financial or its licensed affiliates. Credit cards are offered through our marketing partner First Bankcard, a division of First National Bank of Omaha. We do not provide account numbers or transaction information to them but do inform them that you are a customer of the bank.
Q. What kind of information does Rockland Trust collect?
A. The kind of information we collect depends upon your financial needs and the products and services you request. For example, when you apply for a loan or open an account with us, we need information about your financial status - such as your place of employment, income, monthly expenses and personal assets and outstanding debts - to process your requests. In addition, in order to make your banking as convenient and efficient as possible, we maintain information about your transactions with us, your account balance and repayment history.
Q. How does Rockland Trust obtain the information?
A. We collect information from many sources. Much of the information comes directly from you when you complete a loan or account application. For a loan application, we also obtain information from credit bureaus and other creditors regarding your credit and repayment history. We retain communications from you (such as letters or e-mails) in order to handle questions you may have and to keep records of your request or concerns regarding our products and services. We also use your letters or e-mails to measure how effectively we have addressed your concerns. If you use our online banking service, we record your online sessions so that we can process and confirm your transactions and provide you with automatic online reports. We also obtain demographic and household information from outside sources such as database information firms.
Q. Who has access to my information?
A. Rockland Trust has strict internal policies against unauthorized use or disclosure of customer information. Customer information is accessible only to employees who need it to conduct your financial affairs. We emphasize the importance of confidentiality through our Code of Conduct, employee training, and operating procedures. We maintain physical, electronic and procedural safeguards according to established security standards to protect our customers' information.
Q. Why does Rockland Trust need this information?
A. We maintain information and data about you to maintain the security of your accounts and to protect you and the entire institution against fraud. We need accurate information to be able to positively identify you and authenticate your transactions in order to prevent access to your accounts by unauthorized individuals. We also collect and analyze customer information as the first step in offering new products and services. For example, if we know you are a homeowner and may be in need of additional financing, we can recommend a home equity loan or credit line as an alternative to an installment loan because of its potential lower costs and tax benefits. We are also required by laws and regulations to gather certain information. For example, we are required by federal regulation to obtain a tax identification number (generally a Social Security Number) for many of our accounts, including all savings, checking or investment accounts that pay interest.
Q. Are there any regulations allowing disclosure of account information?
A. Yes. Under current law, we are allowed to share certain information - such as your name, address and information about your accounts within our company. In some cases, such as fraud investigation or in response to a validly issued search warrant or subpoena, we may be required by law to provide certain information to law enforcement agencies. There are also laws and regulations that affect the sharing of information with outside firms such as check printers, data processors and marketing firms acting on behalf of the Bank.
Q. Why does Rockland Trust share information with outside third-party companies?
A. We use third parties to help us process your financial transactions and to provide you with a full range of financial products and services. For example, we use third parties to print your checks, to process your account transactions, to help us market our products and services, and to mail account statements on our behalf. This means more efficient services and helps keep your costs as low as possible. In addition, when you open an account or apply for a credit card, loan or line of credit, we use various credit bureaus as part of the process for approving your application. We may also use outside companies to help us with fraud investigation.
Q. What kind of information does Rockland Trust share with third-party companies?
A. The information shared depends on the product or service we are providing to you. We may share your name, address, Social Security Number, loan or credit card repayment history, or overdraft history, depending on the situation. We will not share your account number, access codes, Social Security Number, or driver's license number with any third party for purpose of marketing their products or services to you.
Q. Will the third parties keep my information confidential?
A. Rockland Trust will not share information with any company that does not agree to keep your information confidential. We carefully select the third-party companies we work with, and any information that is shared is always subject to strict confidentiality agreement(s). Moreover, it is a violation of federal law for a third party to reuse customer information received from us unless that information is also publicly available elsewhere.
Q. Is it possible to prevent information sharing with third parties?
A. Rockland Trust does not sell, nor rent information to marketers or any third party. We do not share information with third parties such as insurance or investment firms, unless you initiate such a request. By law we would not be able to share your information without giving you the opportunity to "Opt-Out" - that is, you would be directing us not to make such disclosures (other than disclosures permitted by law).
Consumer Protection under the Electronic Funds Transfer Act
Regulation E, which implements the Electronic Fund Transfer Act, provides consumers with certain protections when errors occur that involve electronic fund transfers (EFT). If you notify Rockland Trust that an error involving an EFT has occurred, Rockland Trust must investigate and resolve the claim within specified deadlines. An "EFT" includes any transfer of funds that is initiated through an electronic terminal, telephone or computer for the purpose of ordering, instructing or authorizing a withdrawal or deposit transaction on your account. It includes, but is not limited to, ATM transfers, point-of-sale transfers, direct deposits or withdrawals of funds, telephone transfers, transfers resulting from debit card transactions, and one-time electronic withdrawals when information from a paper check is used to create an electronic withdrawal ("check conversion"). These protections are available for consumers and their consumer bank accounts, including those that may be accessed electronically through online banking. However, these protections are not available to business entities and the business accounts that they maintain. See your account agreement or contact us at 800.222.2299 for more information.
What is considered an Error?
- When there was an unauthorized EFT;
- An incorrect EFT;
- When an EFT is improperly omitted from your statement;
- A computational or bookkeeping error regarding an EFT;
- When an incorrect withdrawal amount occurs from an ATM;
- When Rockland Trust improperly identifies an EFT on a statement;
- When a consumer requests documentation that was required by Regulation E, or for additional information or clarification so that a consumer can determine whether an error was made.
What is and isn't covered by the Regulation E Error Resolution Requirements
Electronic transactions that are covered include:
- Unauthorized debit card transactions that appear on a customer's personal account statement.
- Withdrawal transactions conducted against a customer's personal account at an ATM, when the machine dispenses an incorrect amount of cash.
Transactions that are not covered include:
- Unauthorized debit card transactions that appear on a customer's business account statement.
- Debit card purchases that are authorized but result in a customer's dissatisfaction with the quality of the merchandise that was purchased.