IOU CENTRAL INC. Privacy Policy

IOU CENTRAL INC. (“IOU Central”, “we”, “us” or “our”) takes steps intended to meet privacy principles and requirements with respect to personal information under applicable Canadian privacy legislation. The purpose of this Privacy Policy is to inform our members and other individuals we deal with (“you” or “your”) how we collect, use, disclose and protect your personal information. Personal information is information about an identifiable individual, as more particularly described under applicable privacy legislation. This Privacy Policy applies to our collection, use and disclosure of personal information in Canada. This statement does not apply to information about our employees or to information that is not personal information.

Personal Information We Collect
IOU Central and its agents and representatives collect personal information about you from various sources (including from credit reporting agencies, creditors, businesses and financial institutions with whom you have had a financial relationship) and in a number of circumstances in the course of our retail lending services. Personal information we collect includes:

  • your name, address, e-mail address, Internet Protocol address, telephone number, and other contact information;
  • financial information, such as your bank name and your bank account number, credit bureau reports concerning you, credit reports prepared by personal information agents and other reports concerning your credit history and experience;
  • other financial or personal information about you such as your income, your employment, your assets and liabilities, your financial condition and your status;
  • your social insurance number;
  • information that may be compiled by IOU Central such as transaction or usage history and statistic log information or community discussions; and
  • such other information we may collect with your consent or as permitted or required by law.

Use of Personal Information
IOU Central generally uses personal information for the following purposes:

  • managing and administering your account;
  • facilitating the transactional process between financial institutions and between IOU Central and its members;
  • obtaining credit information in order to establish your credit score/rating/letter;
  • preventing fraud, identity theft or illegal activities;
  • maintaining business records for reasonable periods, and generally managing and administering our business;
  • meeting legal, regulatory, insurance, audit, processing and security requirements which may include establishing and verifying your identity and checking identities against money laundering, terrorist financing or similar watch lists established by regulatory agencies or similar bodies in Canada and internationally;
  • otherwise with your consent or as permitted or required by law.

Disclosure of Your Personal Information

We may disclose your personal information in the following circumstances:

Service Providers. IOU Central may transfer personal information to outside agents or service providers (including affiliates of IOU Central acting in this capacity) that perform services on our behalf, for example Web site systems operators, credit reporting agencies, banks and collection agencies or otherwise to collect, use, disclose, store or process personal information on our behalf for the purposes described in this Privacy Policy. Some of these service providers or affiliates may be located outside of Canada, including in the United States, and your personal information may be collected, used, disclosed, stored and processed in the United States or elsewhere outside of Canada for the purposes described in this Privacy Policy. Reasonable measures we may take to ensure that personal information processed or handled by these service providers on our behalf is protected and not used or disclosed for purposes other than as directed by us are subject to legal requirements in Canada, the United States and other foreign countries applicable to our affiliates, agents and service providers, for example lawful requirements to disclose personal information to government authorities in those countries.

Business Transactions. Personal information may be used by IOU Central and disclosed to parties connected with the proposed or actual financing, securitization, insuring, sale, assignment or other disposal of all or part of IOU Central or our business or assets, for the purposes of evaluating and performing the proposed transaction, which purposes may include, for example:

  • permitting those parties to determine whether to proceed or continue with the transaction
  • fulfilling reporting, inspection or audit requirements or obligations to those parties

Assignees or successors of IOU Central or our business or assets may use and disclose your personal information for similar purposes as those described in this Privacy Policy.

Legal, Regulatory, etc.  IOU Central may disclose your personal information as necessary to meet legal, regulatory, industry self-regulatory, insurance, audit, and security requirements, and as otherwise with your consent or as permitted or required by law including as required by applicable Canadian and foreign laws applicable IOU Central or our agents and service providers, and including lawful requirements to disclose personal information to government authorities in those countries.
General.We may otherwise disclose personal information with your consent, or as permitted or required by law.

In addition to the above, personal information may be disclosed to our affiliates (including outside of Canada) for internal audit, management, billing or administrative purposes.

Our Website/The Internet

IOU Central operates and controls the Web sites www.ioucentral.ca and www.ioucentral.com.

Cookies. 

We may use « cookie » files to enhance the use of the IOU Central Web site for IOU Central members and IOU Central Web site users. A « cookie » is a small text file placed on a computer’s hard drive by our Web page server in order to recognize that someone has visited the IOU Central Web site before, and to apply the configuration preferences that he or she has chosen. Other than the information provided by the IOU Central Web site visitor, cookie files do not contain information that can be used to identify an individual visitor.  You can disable cookies using your Internet browser’s settings. Please consult your browser’s help function for information on how to disable cookies. Note that if you disable cookies, certain features of our Web site may not function properly. We do not require anyone to accept cookies in order to use the IOU Central Web site.

E-mail Policy. 

Once your IOU Central account is created, we will use your e-mail address to contact you regarding your IOU Central account and transactions you engage in through the IOU Central Web site and for other member service purposes. We also use your e-mail address to answer your e‑mail and member service requests. In order to provide consistent high-quality member service, we may store any correspondence with you in a file specific to you. We will also use your e‑mail address to provide you with updates via e-mail regarding changes to IOU Central’s Privacy Policy and changes or enhancements to our services.

No Third Party Marketers

IOU Central does not sell, rent or trade your personal information to third parties or marketing firms for their promotional purposes. We do send communications periodically to inform you of the status of transactions or events related to your use of the IOU Central Web site. Some of these communications are mandatory as part of transactions you are considering or have concluded through our Web site.

Your Consent

Consent to the collection, use and disclosure of personal information may be given in various ways. Consent can be express (for example, orally, electronically or on a form you may sign describing the intended uses and disclosures of personal information) or implied (for example, when you provide information necessary for a service you have requested). You may provide your consent in some circumstances where notice has been provided to you about our intentions with respect to your personal information and you have not withdrawn your consent for an identified purpose, such as by using an “opt out” option provided, if any. Consent may be given by your authorized representative (such as a legal guardian or a person having a power of attorney). Generally, by providing us with your personal information, we will assume that you consent to our collection, use and disclosure of such information for the purposes identified or described in this Privacy Policy, if applicable, or otherwise at the time of collection.

You may withdraw your consent to our collection, use and disclosure of personal information at any time, subject to contractual and legal restrictions and reasonable notice. Note that if you withdraw your consent to certain uses of your personal information, we may no longer be able to provide certain of our services. Note also that where we have provided or are providing services to you, your consent will be valid for so long as necessary to fulfill the purposes described in this Privacy Policy or otherwise at the time of collection, and you may not be permitted to withdraw consent to certain necessary uses and disclosures (for example, but not limited to, maintaining reasonable business and transaction records, disclosures to Canadian and foreign government entities as required to comply with laws, and reporting on credit information after credit has been granted, if applicable).

IOU Central collects, uses and discloses your personal information with your consent, except as permitted or required by law. We may be required or permitted under statute or regulation to collect, use or disclose personal information without your consent, for example to comply with a court order, to comply with local or federal regulations or a legally permitted inquiry by a government or law enforcement agency, or to collect a debt owed to us, our representatives and service providers, or another IOU Central member in connection with credit or services you obtained from IOU Central.

Security

We take reasonable steps to protect your personal information using physical, electronic or procedural security measures appropriate to the sensitivity of the information in our custody or control, which may include secure web pages, encryption, password intrusion detection systems and firewalls:

  • Secure Web Pages
    All the pages on our Web site that ask for your personal information are transferred to your browser through HTTPS, a secure server communications protocol. You can verify this encryption by checking for the key (Netscape) or lock (Internet Explorer) icon on your browser. If your browser’s security feature has been turned on, a pop up box will notify you when you enter a secure page.
  • Encryption
    When you send your personal information to us, it is protected by SSL (Secure Sockets Layer) Technology. SSL does not allow anyone to read your personal information. When you transmit your information to us, SSL encrypts it (translates the data into a string of gibberish characters). Only we can decode the encryption.
  • Firewall Protection
    Your financial information is encrypted and backed up every day. Even in the unlikely event that our Web site is “hacked,” your data will still remain secure.
  • Password Protection
    To retrieve information about your status, you are required to enter both a password and your username.

These safeguards are used to protect against loss or theft, as well as unauthorized access, disclosure, copying, use or modification of your personal information.  On top of all the security features implemented in our system, the security of your IOU Central account also relies on you safeguarding your IOU Central password. You may not share your IOU Central password with anyone.

Authorized employees, agents and mandataries of IOU Central and parties to a contract of work or services with IOU Central who require access to your personal information in order to fulfil their job requirements or contracts will have access to your personal information.

Access, Correction and Contacting Us

You can access and review the personal information you submit to us at any time through your IOU Central account. To make changes to your personal profile information, log in to your IOU Central account using your IOU Central member username and password. Click on « My Info » in the « My Profile » section and make changes to your profile as necessary.

IOU Central may establish and maintain a file of your personal information for the purposes described hereinabove, which will be accessible through its operational offices at 3575 Saint-Laurent Blvd., Suite 118, Montréal, Québec, Canada, H2X 2T7. You may request access to your file or correction of any inaccuracies in your personal information in our possession, or held by the personal information agent who prepared a credit report on you. Your right to access or correct your personal information is subject to applicable legal restrictions. If you wish to request access or correction of your file, or to make inquiries or complaints or have other concerns about our personal information practices, you may e-mail us at customersupport@ioucentral.ca or write to us at the above address, attention Privacy Department.

Identity Theft

If you think your identity has been stolen, contact all three credit-reporting agencies listed hereinafter to put a fraud alert on your credit report:

  • TransUnion Canada

Consumer Inquiries:

For residents of all provinces except Québec:
Phone:           1-866-525-0262 or (905) 525-0262
8:00 AM until 8:00 PM EST, Monday to Friday
Write:            TransUnion Canada Consumer Relations Centre
P.O. Box 338,
LCD 1 Hamilton, Ontario, L8L 7W2

For residents of Québec:
Phone:           1-877-713-3393 or (514) 335-0374
8:30 AM until 5:00 PM EST, Monday to Thursday
8:30 AM until 4:30 PM EST, Friday

Write:           TransUnion
1 Place Laval, Suite 370
Laval, Québec, H7N 1AI

  • Equifax Canada

Phone:           1-800-465-7166 or (514) 493-2314
Write:            Equifax Canada Inc.
Consumer Relations Department
P.O. Box 190 Jean Talon Station
Montreal, Québec, H1S 2Z2

  • Experian CanadaPhone:           (416) 593-7906
    Write:            Experian
    170 University Avenue, Suite 703
    Toronto, Ontario, M5H 3B3
  • Check your credit report again in 30-60 days for any new signs of identity theft or records that still need to be removed.
  • File a police report with your local enforcement agency. A police report is helpful when dealing with creditors as you challenge inquiries to your credit report or accounts opened fraudulently in your name.
  • Keep records of all actions you have taken and letters your have written.

Privacy Policy Changes

If we decide to change any of our privacy policies, we will post those changes to this Privacy Policy, the IOU Central Web site home page, and other places we deem appropriate so that you are aware of what information we collect, how we use it, and under what circumstances, if any, we disclose it.

We reserve the right to modify this Privacy Policy at any time and from time to time, so please review it frequently.  If we make material changes to this policy, we will notify you by e‑mail or by means of a notice on the IOU Central Web site home page.  Your continued provision of personal information or use of the IOU Central Web site or our services following any change to this Privacy Policy constitutes your acceptance of any such change.

For additional information, or if you have any questions regarding this Privacy Policy or the privacy practices of IOU Central, please submit your questions or comments via e-mail to customersupport@ioucentral.ca.

You can also send written questions or comments to:

IOU Central Inc.
Attention: Privacy Department
3575 Saint-Laurent Blvd., Suite 118
Montréal, Québec, Canada
H2X 2T7

TRUSTe Web Privacy Seal Program

IOU Central is a licensee of the TRUSTe Web Privacy Seal Program.  TRUSTe is an independent, non-profit organization whose mission is to build user’s trust and confidence in the Internet by promoting the use of fair information practices.  This Privacy Policy covers the Web site www.ioucentral.ca and www.ioucentral.com.  Because this Web site wants to demonstrate its commitment to your privacy, it has agreed to disclose its information practices and have its privacy practices reviewed for compliance by TRUSTe.

If you have questions or concerns regarding this policy, you should first contact us via e‑mail at customersupport@ioucentral.ca or write to us at the mailing address shown above.  If you do not receive acknowledgement of your inquiry or your inquiry has not been satisfactorily addressed, you should contact TRUSTe through the TRUSTe Watchdog Dispute Resolution Process at http://www.truste.org/consumers/watchdog_complaint.php. TRUSTe will then serve as a liaison with us to resolve your concerns.

This Privacy Policy was last revised on December 13, 2007.

TRUSTe Privacy Certification