Overview

GoDo Inc. (“GoDo” or the “Company”) has developed this Policy to comply with federal Privacy requirements. 

To ensure that customers are protected against unwanted sharing of their financial information, the Gramm-Leach-Bliley Act (“GLBA”) includes a series of regulations known as the Privacy Rules. The Privacy Rules are intended to ensure the confidentiality and security of consumer and customer information.

When an institution chooses to share customer information, a customer can opt-out, or forbid the sharing of their information. Because GoDo does not share any of our customers' personal information with outside parties (except for the purposes of day-to-day business) or affiliates, it is not necessary for the customer to opt-out. 

The GLBA Privacy Rules address the following four concepts:

• Our obligation to inform consumers and customers of our policies and procedures regarding the sharing of their personal information.
• The concept of personal customer information, and the limited exceptions under which we may share this information with outside parties.
• Our responsibilities to protect personal customer information.
• Our responsibility to establish appropriate standards relating to safeguarding customer information. 

The three principal requirements of the GLBA Privacy Rules are as follows:

• Provide customers with notices describing our privacy policies and practices, including policies with respect to the disclosure of nonpublic personal information to affiliates and to nonaffiliated third parties.
• Subject to specific exceptions, we may not disclose nonpublic personal information about consumers to any nonaffiliated third party unless consumers are given a reasonable opportunity to direct that such information not be shared (i.e., Opt-Out).
• We generally may not disclose account numbers to any nonaffiliated third party for marketing purposes.

As noted above, GoDo does not share customers’ personal information with nonaffiliated third parties (except for reasons allowed by the Rules), and therefore is not required to provide the customer with the opportunity to opt-out.

The Right to Financial Privacy Act (“RFPA”) establishes specific procedures that federal government authorities must follow in order to obtain information from us about a customer’s financial records. Generally, these requirements include obtaining subpoenas, notifying the customer of the request, and providing the customer with an opportunity to object. The Act imposes related limitations and duties on financial institutions prior to the release of information requested by federal authorities.

The Children’s Online Privacy Protection Act (“COPPA”) was enacted to prohibit unfair and deceptive acts or practices in connection with the collection, use, or disclosure of personal information from children under the age of 13 in an online environment. Generally, the Act requires operators of Websites or online services directed to children, or that have actual knowledge that they are collecting or maintaining personal information from children online, to provide certain notices and obtain parental consent to collect, use, or disclose information about children. The FDIC is granted enforcement authority under the Act. Federal Trade Commission regulations (16 CFR 312) that implement COPPA became effective April 21, 2000.

Policy Statement 

GoDo seeks to proactively comply with all requirements that stem from regulations that govern our activities. The Privacy Rules within the GLBA apply to all activities that involve non-affiliated third parties and the disclosure of nonpublic personal information for consumers. 

It is the policy of GoDo not to disclose nonpublic personal information about our customers to nonaffiliated third parties except as authorized by law. To the extent that GoDo seeks to disclose nonpublic information to nonaffiliated third parties in the future (such as for marketing), GoDo will ensure that the customer is provided with the right to opt-out or limit the sharing by notifying GoDo of such intent through the use of a mail-in form or other permissible means.

Additionally, GoDo aims to comply with the RFPA, which establishes specific procedures that federal government authorities must follow in order to obtain information from a financial institution about a customer’s financial records.

Should GoDo operate a website or online service directed to children that collects or maintains personal information about them, or knowingly collects or maintains personal information from a child online, the Company will comply with COPPA requirements. 

The objective of this Privacy Policy is to protect customer information in accordance with the Privacy Rules. GoDo respects the privacy of our customers and is committed to treating customer information responsibly. We are dedicated to protecting confidential information and have established standards and procedures to safeguard that personal information.

Responsibilities

Board of Directors

The Board of Directors (the “Board”) is responsible for approving the content of this Policy and any substantive revisions thereto. Approval of non-substantive revisions is the responsibility of the Chief Compliance Officer (the “CCO”).  

Chief Compliance Officer

The CCO, or designee (individually and collectively, referred to herein as Compliance) will report directly to the executive team and is responsible for owning, maintaining and enforcing this Policy.  Compliance institutes proper controls that ensure the requirements of this Policy are followed, and identifies and ensures Company managers and employees who are affected by this policy are made aware of its requirements. Compliance also ensures all appropriate personnel have access to resources necessary to comply with this Policy.

Key Definitions 

1. Child. An individual under the age of 13. 
2. Consumer. An individual who obtains from us a financial product or service that is to be used primarily for personal, family, or household purposes. For example, a consumer is an individual who applies for credit (regardless of whether the credit is extended).
3. Customer (GLBA). A consumer who has a continuing relationship with us under which we provide one or more financial products or services.
   NOTE: A consumer has a more temporary relationship with us than a customer. All customers are consumers, but all consumers are not customers.
4. Personally identifiable financial information. Any information – financial or otherwise – that we have about our customers, which can be tied to a specific customer.
5. Nonpublic personal information.  The nonpublic portion of personally identifiable financial information, including any customer lists. Nonpublic personal information consists of nonpublic information that is collected in connection with providing a financial product or service. Specifically, it means:
   • Personally identifiable financial information, which includes:
     • Information a customer provides on an application;
     • Account balance information, payment history, overdraft history and credit or debit card purchase information;
     • Any information collected through an Internet “cookie”;
     • Information from a consumer report;
     • The fact that an individual is or has been one of our customers or has obtained a financial product or service from us; and
     • Any information about our customer if it is disclosed in a manner that indicates that the individual is or has been our customer.
   • Any list, description, or other grouping of consumers that is derived using any personally identifiable financial information that is not publicly available. Lists include, but are not limited to, any list of individuals’ names and addresses that is derived in whole or in part using personally identifiable information that is not publicly available, such as account numbers.
     NOTE: Nonpublic personal information does not include information that is available from public sources, such as telephone directories or government records. It also does not include aggregate information or blind data that does not contain personal identifiers.
6. Affiliate. Any company that controls, is controlled by, or is under common control with another company.
7. Nonaffiliated Third Party. Persons or entities except affiliates and persons jointly employed by a financial institution and a nonaffiliated third party. GLBA Privacy Rules restrict information sharing with nonaffiliated third parties.

GLBA Policy Requirements 

Information about customers is accumulated at account opening, when customer service inquiries are made, or when GoDo responds to customer requests for information. 

Information GoDo is Allowed to Share 

Although GoDo does not currently share with affiliates (because we do not have affiliates), the law allows GoDo to share in this context to the extent that there is a need for our affiliate to have that information, and subject to the opt-out provisions for affiliate marketing and consumer credit report information established by the Fair Credit Reporting Act. 

We may share information with other parties, without meeting the “opt-out” condition (defined below), under any of the following conditions:

• To market GoDo’s own financial products or services;
• Where third parties are performing services or functions on behalf of GoDo, including marketing GoDo’s own products or services or products and services offered pursuant to a joint agreement between GoDo and another financial institution, provided that GoDo:
  • discloses that arrangement, and
  • enters into an agreement with the third party to maintain the confidentiality of the information.
• The customer consents;
• It is necessary to effect, administer, or enforce a transaction requested or authorized by the customer;
• To process and service transactions the customer requests or authorizes;
• To protect against potential fraud or unauthorized transactions;
• To protect the confidentiality or security of GoDo’s records;
• For risk control purposes or for resolving customer disputes;
• To persons holding a legal or beneficial interest relating to the customer;
• To persons acting in a fiduciary capacity on behalf of the customer;
• To law enforcement agencies if permitted or required under other provisions of law;
• To respond to judicial process, attorneys, accountants and auditors;
• To respond to governmental authorities for examination, compliance, or other lawful purposes;
• To a consumer reporting agency in accordance with the Fair Credit Reporting Act; or
• To comply with federal state or local laws.

Opt Out Provision 

Although GoDo does not currently engage in this practice, if the company does eventually share nonpublic personal information with nonaffiliated third parties in any other capacity than as defined above, GoDo will offer customers the opportunity to “opt out” of the information sharing process. Prior to any such sharing, GoDo will ensure that the customer is provided with the right to opt-out or limit the sharing by notifying GoDo of the intent to “opt out” through the use of a mail-in form or other permissible means. 

GLBA Notice to New Customers 

GoDo is required to provide a copy of the GLBA Notice when it enters into a customer relationship with a consumer. A customer relationship means a continuing relationship between a consumer and GoDo, and is established when we provide one or more financial products or services to the consumer that are to be used primarily for personal, family, or household purposes. 

GoDo will provide a clear and conspicuous notice that accurately reflects the privacy policies and practices as they relate to:  a) the Company’s customers and b) consumers who may inquire or apply for our services, but do not become customers. This Privacy Notice will be given to the individual when that individual enters into a continuing relationship with the Company. If our sharing of information changes, a new Privacy Notice will be delivered to covered customers. The Privacy notice will inform the customer of the following information:

• Categories of nonpublic personal information we collect;
• Categories of nonpublic personal information we disclose;
• Categories of affiliates and nonaffiliated third parties to whom we disclose nonpublic personal information;
• Categories of nonpublic personal information about our former customers that the bank discloses and the categories of affiliates and nonaffiliated third parties to whom we disclose nonpublic personal information about our former customers;
• An explanation of the consumer’s right to opt-out of the disclosure of nonpublic personal information to nonaffiliated third parties and the ability to opt-out of disclosures of information among affiliates;
• Our policies and practices with respect to protecting the confidentiality and security of nonpublic personal information;
• Any exceptions to the opt-out requirements

GoDo does not disclose nonpublic personal information about customers to anyone, except as permitted by law.  When customers close accounts or become inactive customers, we adhere to the privacy policies and practices as described in our privacy disclosures. It is our policy not to reveal specific information about customer accounts or other personally identifiable data to unaffiliated third parties for their independent use, except as permitted by law.

Annual GLBA Notice

GoDo is exempted from delivering an annual GLBA Notice since the Company does not share any information for which customers may opt-out of. Should GoDo change its policies and practices in the future with regards to disclosing nonpublic personal information that does not meet the annual GLBA Notice exception criteria, GoDo will send its customers a GLBA Notice no less than annually as long as there is a continuation of the customer relationship. 

Changes to the GLBA Notice 

GoDo will not disclose any nonpublic personal information about a customer other than as described in the GLBA Notice, unless GoDo provides a clear and conspicuous revised notice that accurately describes the new policies and practices – along with any appropriate opt-out. In such circumstances, GoDo will not engage in such sharing until after it provides at least 30 days for the customer to opt-out.

Confidentiality and Security

The Company is  committed to the security of customer financial and personal information.  All of our operational and data processing systems are in a secure environment that protects account information from being accessed by third parties. We maintain and grant access to customer information only in accordance with our internal security standards.

Our employee access to personally identifiable customer information is limited to those with a business reason to know such information. Employees are educated on the importance of maintaining the confidentiality of customer information and on these privacy principles. Because of the importance of these issues, our employees are responsible for maintaining the confidentiality of customer information and employees who violate these privacy policies will be subject to disciplinary measures, including, but not limited to termination.

Maintenance of Accurate Information

The Company continually strives to maintain complete and accurate information about customer accounts.

Maintaining Customer Privacy in Third Party Relationships

When the Company conducts business with third parties, we require vendors and suppliers to maintain similar standards of conduct regarding the privacy of personally identifiable customer information provided to them.

RFPA Policy Requirements 

Access to Financial Records by Federal Government Authorities 

Before GoDo staff provides a customer’s financial records to a federal government authority, one of the following must have been received:

• Voluntarily signed and dated authorization by a customer which –
  • Authorizes such disclosure for a period not to exceed three (3) months; 
  • States that the customer may revoke such authorization at any time before the financial records are disclosed;
  • Identifies the financial records authorized to be disclosed;
  • Specifies the purposes for which, and the government authority to which, such records may be disclosed; and
  • States the member’s rights under the Act.
• An administrative subpoena or summons. GoDo may release a customer’s financial information only if:
  • GoDo has reason to believe the records sought are related to a legitimate law enforcement inquiry; 
  • The customer has been served with a copy of the subpoena on or before the date that GoDo is served, and GoDo receives a copy of the notice sent to the customer specifically describing the nature of the inquiry; and
  • GoDo waits ten (10) days from the date the customer was served (or 14 days if the customer was served by mail), to see if notice is received that the customer has filed a motion to stop the subpoena. GoDo will ensure that all required elements are met before disclosing financial information to the federal authority.
• A search warrant.
• A judicial subpoena. If the customer does not challenge the subpoena in court, the records may be available to a federal government authority upon expiration of ten (10) days from the date of service by the court (or 14 days if the notice was mailed to the customer). GoDo will ensure that all required elements are met before disclosing financial information to the federal authority.
• A formal written request by a federal government authority, which is only used when no other authority is available to the federal authority (above). If the customer does not challenge this written request in court, the records may be available to a federal government authority upon expiration of ten (10) days from the date of service by the court (or 14 days if the notice was mailed to the customer). GoDo will ensure that all required elements are met before disclosing financial information to the federal authority. 

In addition to one of the above documents, GoDo must also receive a written certification from the federal government authority that the authority has complied with the applicable provisions of the Act.  Upon receipt, GoDo will begin to prepare delivery of the requested financial information. 

Delayed Notice

GoDo may be required to delay notice to the customer that records have been requested or obtained for ninety (90) days, or indefinitely, if a judge finds that: 

• The investigation being conducted is within the lawful jurisdiction of the federal government authority seeking the financial records;
• There is reason to believe the records sought are relevant to a legitimate law enforcement inquiry; and
• There is reason to believe such notice will result in –
  • Endangering the life or physical safety of any person;
  • Flight from prosecution;
  • Destruction of or tampering with evidence;
  • Intimidation of potential witnesses; or
  • Otherwise seriously jeopardizing an investigation or official proceeding or unduly delaying a trial or ongoing proceeding to the same extent as the circumstances above.

Exceptions 

The Act’s notification and certification requirements do not apply to the following situations:

• When the request for disclosure is not identified with a particular customer, which also includes records or information that is not identifiable as being derived from the financial records of a particular customer.
• When the request for disclosure is pursuant to the exercise of supervisory, regulatory or monetary functions with respect to financial institutions (e.g., examinations, conservatorships and receiverships).
• When the disclosure is pursuant to procedures authorized by the Internal Revenue Code.
• When the disclosure is pursuant to the filing of a Suspicious Activity Report (SAR) when GoDo believes that information may be relevant to a possible violation of a statute or regulation.
• When the disclosure is required, pursuant to a federal statute or regulation.
• When the request for disclosure is sought under the Federal Rules of Civil or Criminal Procedure, or comparable rules of other courts in connection with litigation to which the government authority and the customer are parties.
• When the request is pursuant to an administrative subpoena issued by an administrative law judge in an adjudicatory proceeding.
• When the request is pursuant to legitimate law enforcement inquiries, and the information sought is the name, address, account number and type of account of any customer.
• When the request is pursuant to a grand jury subpoena.  In these instances, GoDo staff will not disclose the existence of such a subpoena to the customer, or that financial records were turned over to a grand jury.
• When the records are sought by the General Accounting Office pursuant to an authorized proceeding, investigation, examination or audit directed at a government authority.
• When GoDo or supervisory agency provides any record of any officer or employee to the U.S. Attorney General, a state law enforcement agency, or the Secretary of the Treasury that there is reason to believe there were crimes against GoDo by an insider.

Special Procedures

Access to Financial Records for Certain Intelligence and Protective Purposes

Aside from the exceptions listed above, GoDo may provide records to the following entities:

• A government authority authorized to conduct foreign counter- or foreign positive-intelligence activities, when the authority has certified in writing that it has complied with the applicable provisions of the Act;
• The Secret Service for the purpose of conducting its protective functions, when the agency has certified in writing that it has complied with the applicable provisions of the Act;
• A government authority authorized to conduct investigations of, or intelligence or counterintelligence analyses related to, international terrorism, when the authority has certified in writing that it has complied with the applicable provisions of the Act; or
• The Federal Bureau of Investigation (FBI), when the FBI Director (or its designee) certifies in writing that such records are sought for foreign counterintelligence purposes to protect against international terrorism or clandestine intelligence activities, provided that such an investigation of a U.S. person is not conducted solely on the basis protected by the first amendment to the U.S. Constitution.

GoDo staff will not disclose that a government authority listed above has sought or obtained access to financial records when such authority certifies that there may result a danger to the national security of the United States, interference with a criminal, counterterrorism, or counterintelligence investigation, interference with diplomatic relations, or danger to the life or safety of any person.

Emergency Access to Financial Records

GoDo staff may release financial records to a government authority when the authority determines that delay in obtaining access to such records would result in imminent danger of the following:

• Physical injury to any person;
• Serious property damage; or
• Flight to avoid prosecution.

In these cases, the government authority will submit the required certificate of compliance with the Act, which is signed by a supervisory official of a rank designated by the head of the government authority.

COPPA Policy Requirements 

The Company currently does not operate a website or online service directed to children that collects or maintains personal information about them, or knowingly collects or maintains personal information from a child online. In the event that the Company does, GoDo will comply with the requirements of COPPA including: 

• Providing notice on the Company’s website or online service of what information it collects from children, how it uses such information, and its disclosure practices for such information;
• Obtaining verifiable parental consent prior to any collection, use, and/or disclosure of personal information from children; 
• Providing a reasonable means for a parent to review the personal information collected from a child and to refuse to permit its further use or maintenance; 
• Not conditioning a child's participation in a game, the offering of a prize, or another activity on the child disclosing more personal information than is reasonably necessary to participate in such activity and
• Establishing and maintaining reasonable procedures to protect the confidentiality, security, and integrity of personal information collected from children. 

Monitoring and Testing 

GoDo will ensure that compliance with Privacy requirements is independently monitored and tested at least annually.  Results from the testing are maintained and reported to the Board. 

Training 

The Company will train all employees on Privacy Compliance each calendar year, and monitor and track completion of this training. Other periodic or ad hoc trainings may be added as required.

Record Retention

Federal privacy requirements do not specifically require GoDo to maintain records for a specified time period. All records related to compliance with the Privacy laws for any GoDo account must be maintained in accordance with the Company's record retention policies and practices.