Children's Online Privacy Protection Rule
Approved by the Board of Directors May 15, 2013
Schertz Bank & Trust does NOT solicit or collect information from young children, specifically children under the age of 13.
What is the Children's Online Privacy Protection Rule?
Congress enacted the Children's Online Privacy Protection Act (COPPA), 15 U.S.C. §§ 6501- 6508, in 1998. COPPA contains a requirement that the Federal Trade Commission (FTC or Commission) issue and enforce a rule concerning children's online privacy, which the Commission did in 1999. The Children's Online Privacy Protection Rule, 16 C.F.R. Part 312, became effective on April 21, 2000.
The primary goal of COPPA and the Rule is to place parents in control over what information is collected from their young children online. The Rule was designed to protect children under age 13 while accounting for the dynamic nature of the Internet. The Rule applies to operators of commercial websites and online services directed to children under 13 that collect, use, or disclose personal information from children, and operators of general audience websites or online services with actual knowledge that they are collecting, using, or disclosing personal information from children under 13.
USA Patriot Act Notice
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
As a result of the 9/11 terrorist attacks, Congress enacted the USA PATRIOT Act. This Act, which is designed in part to fight the funding of terrorism and money laundering activities, includes a provision requiring all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What the identification requirements mean for you:
When you open an account, we will ask for your name, address, date of birth, and other information that will allow the financial institution to identify you. They may also ask to see your driver's license or that you provide other identifying documents. They will verify the identity information that you provide. The means of verification are varied and may include the use of credit reports and similar information sources.
Please remember that these identification requirements: