12 CFR 366.13 – What is my obligation regarding confidential information?
(a) Neither you nor any person who performs services on your behalf may use or disclose information obtained from us or a third party in connection with an FDIC contract, unless:
Terms Used In 12 CFR 366.13
- Contract: A legal written agreement that becomes binding when signed.
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
(1) The contract allows or we authorize the use or disclosure;
(2) The information is generally available to the general public; or
(3) We make the information available to the general public.
(b) The following are examples of when your use of confidential information is inappropriate. These examples are not inclusive.
(1) Disclosing information about an asset, such as internal asset valuations, appraisals or environmental reports, except as part of authorized due diligence materials, to a prospective asset purchaser.
(2) Disclosing a borrower’s or guarantor‘s personal or financial information, such as a financial statement to an unauthorized party.