Taking a Personal Interest in You and Your Business

Privacy Policy

Effective Date: January 1, 2010

The Board of Directors and Management of the Bank understand how important personal privacy is to our customers. The Bank knows that customers expect and deserve privacy and security for their personal and financial affairs; therefore, the Bank must take all steps necessary to safeguard sensitive information that has been entrusted to us by our customers. To that end, the Bank has adopted the following standards and procedures intended to prevent misuse of customer information.

Permissible Reasons to Collect and Maintain Information

The Bank will collect, retain, and use information about our customers only when it will help administer our business or provide products, services, and other opportunities to customers. The Bank will collect and retain information about customers only for specific business purposes. When the Bank does so, the Bank will disclose to our customers why we must gather the information. The Bank must also collect information to comply with certain laws and regulations. Finally, the Bank may use the information to create new products or improve existing products, services, and delivery systems.

If you decide to close your account(s) or become an inactive customer, we will adhere to the privacy policies and practices as described in this notice.

Information We Collect

We may collect 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
  • Information we receive from a consumer reporting agency

Limiting Employee Access

The Bank limits employee access to personally identifiable information to those employees with a business reason to know such information about customers. All employees are informed about the importance of confidentiality and customer privacy.

Maintaining Accurate Information

The Bank will not furnish information relating to a customer to any consumer reporting agency if we know that the information is inaccurate. Also, the Bank will not furnish information to a consumer reporting agency in the following situations:

  • The consumer has  notified the Bank, at the address specified by the Bank, that specific information is inaccurate
  • The information is inaccurate

If the Bank learns that information furnished to a consumer reporting agency is not complete or accurate, the following steps will be taken:

  • Promptly notify the consumer reporting agency that the information is not complete or accurate
  • Provide the agency with corrections to the information, or any additional information, necessary to make the information accurate or complete
  • Refrain from furnishing to the agency any information that remains incomplete or inaccurate

Information Disputes
If a customer disputes the accuracy or completeness of information in a consumer report that the Bank provided to a consumer reporting agency, the Bank will not further furnish the information to any consumer reporting agency without a notice that the customer disputes the information.

If the Bank furnishes information to a consumer reporting agency regarding a delinquent account placed for collection, charged off, or subjected to any similar action, the Bank will inform the agency no more than 90 days after providing the information of the month and year the delinquency began.

Ongoing Privacy Program

As part of our commitment to the safeguarding and security of customer information, the Bank provides its customers with an annual disclosure notice of our Privacy Policy, as long as they are customers of the Bank. The Policy may change, but the Bank will inform customers of any significant changes as required by applicable law. Customers may also view this Privacy Policy on our website.

Notification of Changes to the Online Privacy Policy

When we make changes to this policy, we will change the effective date of the policy and display the changed section in bold type.

Requesting Changes of Personally Identifiable Information

If you have been granted access to our Business Internet Banking or Personal eBanking services, you may review some of the personally identifiable information we have collected. Should you require changes in the information we have on file, please inform us by calling the Electronic Banking Department at 213-430-7000, or writing us at:

1st Enterprise Bank
Attention: Electronic Banking Department
818 W. 7th Street, Suite 220
Los Angeles, CA 90017

Do not email us with your personally identifiable information. Email can be intercepted by unauthorized persons before it reaches the Bank and is therefore not a secure method of sending us information others may use to steal your identity.

Once we have received your requested changes, we will research your request to ensure that the changes requested are accurate before making the changes. We will notify you when the changes have been made so you can review the changes for accuracy.

Security Procedures

The Bank maintains security standards and procedures to help prevent unauthorized access to confidential information about customers.

Restrictions on Disclosing Information

The Bank will not sell, share, transfer, or otherwise disclose nonpublic personal information to or with any nonaffiliated third parties except as necessary to conduct banking transactions you have initiated with us. For example, if you initiate a wire transfer with us, we will disclose your name and other information to the receiving bank and any other intermediary financial institutions necessary to complete the transaction.

Disputes About Information in Consumer Reports

If a customer notifies a consumer reporting agency that it disputes information the Bank provided, the Bank will take the following steps after receiving notice from the agency: (1) Investigate the disputed information, (2) Review all relevant information the agency provided and (3) Report the results to the agency.

If the Bank’s investigation finds that the information is incomplete or inaccurate, the Bank will report the results to all other consumer reporting agencies to whom the Bank reported the information. The Bank has 30 days from when the consumer reporting agency received the dispute notice to meet the above requirements.

Affiliated Companies

1st Enterprise Bank is an independent business bank owned by stockholders who live and work principally in southern California. We are not owned by a larger financial institution, nor do we own or control any other companies. As an independent bank, we do not have any affiliated companies with whom we could share your private information.

California Privacy Act

Under the California Financial Information Privacy Act (SB1), California residents have rights to control the sharing of some of their personal information. You have the right to opt out of any future decision made by the Bank to share your nonpublic personal information. Should the Bank desire to do so, you will be notified in advance and given the opportunity to opt out.

Questions About Your Account

Please contact us by telephone at (213) 430-7000, or write us at 818 W. 7th Street, Suite 220, Los Angeles, CA 90017.