Information Privacy Principles
The principles apply specifically to our financial relationships with individual consumers who inquire about and/or obtain products or services from Lotus Bank for personal, family and household purposes.
Lotus Bank collects nonpublic personal information about you from the following sources:
- Information we receive from you on applications or other forms;
- Information about your transactions with us or others; and
- Information we receive from a consumer reporting agency.
We believe the confidentiality and protection of information is one of our fundamental fiduciary responsibilities. Though the collection and retention of information is critical to providing quality service, we recognize that one of our most important responsibilities is gaining your trust in our abilities to protect this information. Thus, the safekeeping of information is a priority for Lotus Bank. We use information to protect and administer customer records, accounts, and funds; to comply with certain laws and regulations; to help us design or improve our products and services; and to understand our customer’s needs so that we can provide quality products and exceptional service. We do not disclose any nonpublic personal information about you to anyone, except as permitted or required by law. We do not provide nonpublic personal information to unaffiliated companies for the purpose of independent telemarketing or direct mail marketing of any products or services of those companies.
We restrict access to your personal and account information to those employees who need to know that information, in the normal course of business, to provide products and services to you. We maintain physical, electronic and procedural safeguards that comply with federal standards designed to keep your nonpublic personal information private. Our employees are educated on the importance of maintaining the confidentiality of customer information and on these Privacy Principles.
Lotus Bank recognizes and respects your privacy expectations. We want you to understand our commitment to privacy in our use of your information. As a result of our commitment, we have developed these Privacy Principles which are readily available to our customers and consumers. Individuals who have questions about the privacy of their personal information should call their Banking Officer or Executive Vice President Rich Bauer at (248) 735-1000.