Privacy Policy Frequently Asked Questions
  1. What kind of information do you collect?
  2. How do you obtain the information?
  3. Who has access to customer information?
  4. Why do you need this information?
  5. Does Leader Bank use "cookies" on its web site?
  6. What restrictions exist for any Fiduciary/Private Banking information?
  7. What do I do if I see any inaccurate information in my statements?
  8. Are there any regulations allowing disclosure of account information?
  9. What companies make up your "family of companies"?
  10. Will my medical records be shared within your family of companies?
  11. Why do you share information with outside (third-party) companies?
  12. What kind of information do you share with third-party companies?
  13. Will the third parties keep my information confidential?
  14. Is it possible to prevent information sharing with third parties?
  15. How can I reduce direct marketing from other companies?
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 debts outstanding - 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. Our collection and use of information is consistent with the Voluntary Guidelines for Responsible Use and Protection of Customer Information developed by the American Bankers Association.
We collect information from many sources. Much of our 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.
We have 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, operating procedures, and privacy policy. We require the businesses with which we have a relationship to maintain the confidentiality of consumer information.
We maintain physical, electronic, and procedural safeguards according to established security standards to protect our customers' information.
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 clear and 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 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.
No, we at Leader Bank do not use "cookies" on our Web site. (A "cookie" is a small piece of information, which a Web site stores on your PC's Web browser and can later retrieve. "Cookies" are used to store a customer's preferences for certain kinds of information or products.). Additionally, COPPA - Children's Online Privacy Protection Act - was enacted in April, 2000 to protect children under the age of 13 from the online collection of personal information. We do not monitor children's access to our Web site, nor do we intentionally market our products to children.
Fiduciary information is closely guarded when we act as trustee or fiduciary. Such information is subject to more restrictive information sharing limitations than other types of information, both internally and externally. Should you have questions regarding fiduciary information, you may contact your Private Bank Relationship Manager.
We work hard to ensure that your information is current, accurate, and as complete as possible. If you see any inaccuracy in your statements or in any other communications from us, please write to us at: Leader Bank; 180 Massachusetts Avenue, Arlington, MA 02474; or you may contact our Call Center Customer Service Representatives at 1-877-641-7900, or e-mail On-Line Customer Service at customerservice@leaderbank.com It is our policy to investigate and correct inaccuracies in a timely manner. Should any of your information change prior to receiving any statements or mailings from us, please let us know so that we can update our records accordingly.
Yes. Under current law, we are allowed to share certain information - such as your name, address and information about your accounts - among our family of companies (affiliates and subsidiaries). In some cases, such as a 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 firms outside our family of companies (such as check printers, data processors and marketing firms acting on behalf of the Bank).
Our family of companies (or affiliates) includes Leader Bank and none other.
We neither collect nor share medical information.
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.
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 numbers with any third-party for purpose of marketing their products or services to you.
We 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.
We do 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). However, insofar as we do not share information with such parties, you do not need to take any action to prevent sharing of such information.
If you would like to reduce the amount of advertising you receive from companies other than Leader Bank, you may request that the Direct Marketing Association (DMA) delete your name from telephone, mailing and e-mail lists used by their members in marketing products and services to you. Information on these lists is normally obtained from public sources. Your request lasts for five years and includes all versions of your name in which you currently receive information, your address, and your telephone number.
To remove your name from many national direct mail lists write to:
DMA Mail Preference Service
P.O. Box 9008
Farmingdale, NY 11735-9008
To avoid unwanted phone calls from many national marketers, send your name, address, and telephone number to:
DMA Telephone Preference Service
P.O. Box 9014
Farmingdale, NY 11735-9014
For more information visit:
www.the-dma.org.
   Member FDIC. Equal Housing Lender. Copyright © 2010 Leader Bank, N.A. All rights reserved.
Leader Bank, NA BBB Business Review