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Can I collect bank account information from participants in Utah? What are the requirements?

Based on the provided context documents, you cannot collect bank account information from participants in Utah for marketing purposes without their consent, except as provided by law.

Under UTAC R590-206-14, a licensee shall not disclose a policy number or similar form of access number or access code for a consumer’s policy or transaction account to any nonaffiliated third party for use in telemarketing, direct mail marketing or other marketing through electronic mail to the consumer, except for certain exceptions.

Additionally, UTAC R590-206-17 provides exceptions to notice and opt-out requirements for disclosure of nonpublic personal financial information, including disclosure with the consent or at the direction of the consumer, or to persons holding a legal or beneficial interest relating to the consumer.

Therefore, you may only collect bank account information from participants in Utah for marketing purposes if they have given their consent or direction to do so, or if it is required by law.

[2.1][3.1] provide that any personally identifiable information an individual provides to a State website shall be used solely by the State, its entities, and third party agents with whom it has contracted to perform a state function on its behalf, unless superseded by a federal statute, federal regulation, or State statute, or the information is designated as public record by an individual State agency as authorized under Title 63G, Chapter 2 of the Utah Code, Government Records Access and Management Act.

[4.1] provides that if a court order is obtained pursuant to Section 7-1-1001, the governmental entity that obtained the order shall notify the person about whom information is sought that a court order has been obtained within three days of the day on which service of the order is made upon the financial institution, and no later than seven days before the day fixed in the order as the day upon which the records are to be produced or examined.

[5.1] provides that every shareholder of a bank shall have the right to examine the books and records of the bank as provided in Sections 16-10a-1601 through 16-10a-1604. Access to records pertaining solely to the deposits, borrowings, or other financial transaction of a particular customer shall be allowed to a shareholder of the bank upon certain conditions, including a written request for such access is submitted to the board of directors of the bank stating its purpose and necessity, the board denies such request, and the shareholder files a petition with a court of competent jurisdiction requesting an order granting such access.

[5.2] provides that it shall be the duty of the board of directors of every bank to examine or cause to be examined fully the books, papers, and affairs of the bank, and particularly the loans, discounts, and overdrafts thereof with a special view of ascertaining the value and security thereof and of the collateral security, if any, given in connection therewith, and to inquire into such other matters as the commissioner of financial institutions or bank examiner may require. The examination shall be made not less frequently than once within an 18-month period and at such other times as the commissioner may require. Within 30 days after the completion of the examination a report in writing thereof shall be made and placed on file with the records of the bank and shall be subject to examination by the commissioner or bank examiner.

Therefore, if you need to collect bank account information from participants in Utah for purposes other than marketing, you should consult the relevant laws and regulations, and obtain the necessary consent or court order.

Source(s):
Jurisdiction

Utah