Leader Bank, N.A., which operates ZRent, respects the privacy of our ZRent users and protecting your confidential information is a top priority for Leader Bank.
What kind of information do you collect through ZRent?
As part of your ZRent set-up process, we collect information regarding your bank account, including account number(s), for the payment or receipt of funds through ZRent. We also may collect additional identifying information from you in order to confirm you identity, such as your name, address, email address or other information. In addition, in order to make your use of ZRent as convenient and efficient as possible, we maintain information about your transactions through ZRent. 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.
How do you obtain the information?
We collect information directly from you. 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.
Who has access to customer information?
Why do you need this 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 authorized through ZRent. We are also required by laws and regulations to gather certain information.
How you do protect ZRent user information?
We encrypt all ZRent user financial account information stored in our databases, and both Leader Bank and our vendors maintain physical, electronic, and procedural safeguards according to established security standards to protect your information. Leader Bank also fully complies with all data security requirements of federal law, including the Gramm-Leach-Bliley Act and the Massachusetts data security regulations.
Are there any regulations allowing disclosure of account information?
Yes. Under current law, we are allowed to share certain information - such as your name, address and information about your accounts – between affiliates and subsidiaries (of which there are currently none beyond Leader Bank itself) or as necessary to our third party vendors necessary for processing the payments made through ZRent. 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.
Why do you share information with third-party companies?
We use third parties to help us process your ZRent payments. We may also use outside companies to help us with fraud investigation.
What kind of information do you share with third-party companies?
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.
Will the third parties keep my information confidential?
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.
Is it possible to prevent information sharing with third parties?
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.
Will I receive a Privacy Notice in the mail every year?
Under the Privacy Rule (Regulation P) issued under the Gramm-Leach-Bliley Act, all ZRent users who use ZRent to pay personal, household, or family expenses are classified as “consumers,” and therefore need not receive our initial or annual Privacy Notice as Leader Bank does not share your information to non-affiliated third parties for reasons other than the processing of your ZRent transactions, unless you otherwise open a deposit or loan account with Leader Bank, or otherwise become a Leader Bank “customer” within the meaning of the Privacy Rule. If you do become a customer by opening a Leader Bank account, then you will receive the necessary notifications as required by the Privacy Rule. Otherwise, to view a copy of Leader Bank’s Privacy Notice, Click here.