California Consumer Privacy Act

Last updated November 1, 2025

 

Applicability

Your privacy is important to us. This California Consumer Privacy Act and California Privacy Rights Act Disclosure explains how Preferred Bank (“Company,” “we,” or “us”) collects, uses, and discloses personal information relating to California residents covered by the California Consumer Privacy Act of 2018 (“CCPA”), as amended by the California Privacy Rights Act of 2020 (CPRA). This notice is provided pursuant to the CCPA/CPRA.

 

Introduction

Under the CCPA/CPRA, ‘Personal Information’ is information that identifies, relates to, or could reasonably be linked directly or indirectly with a particular California resident. The CCPA/CPRA, however, does not apply to certain information, such as information subject to the Gramm-Leach-Bliley Act (“GLBA”).

The specific Personal Information that we collect, use, and disclose relating to a California resident covered by this disclosure will vary based on our relationship or interaction with that individual. For example, this Disclosure does not apply with respect to information that we collect about California residents who apply for or obtain our financial products and services for personal, family, or household purposes. For more information about how we collect, disclose, and secure information relating to these customers, please refer to our Privacy Notice.

Keeping Personal Information secure is one of our most important priorities. Consistent with our obligations under applicable laws and regulations, we maintain physical, technical, electronic, procedural and organizational safeguards and security measures that are designed to protect personal data against accidental, unlawful, or unauthorized destruction, loss, alteration, disclosure, or access, whether it is processed by us or elsewhere.

 

Collection and Disclosure of Personal Information

In the past 12 months, we have collected, and disclosed to third parties for our business purposes, the following categories of Personal Information relating to California residents covered by this disclosure:

• Identifiers, such as name, government-issued identifier (e.g., Social Security number, driver’s license number, passport number), email address, account name, or other similar identifiers;
• Personal information, as defined in the California safeguards law, such as name, signature, social security number, physical characteristics or description, address, telephone number, passport number, driver’s license or state identification number, insurance policy number, financial information such as a bank account, credit card, or debit card numbers.
• Characteristics of protected classifications under California or federal law, such as race, color, national origin, citizenship, religion or creed, marital status, disability, sex, or veteran or military status.
• Commercial information, such as records or personal property, transaction information and purchase or consuming histories or tendencies;
• Internet or network activity information, such as browsing history, search history, and information regarding interactions with our website or application;
• Geolocation data, such as device location and Internet Protocol (IP) location;
• Audio, electronic, visual and similar information, such as call and video recordings;
• Professional or employment-related information, such as work history and prior employer;
• Education information, such as student records and directory information;
• Inferences drawn from any of the Personal Information listed above to create a profile about, for example, an individual’s preferences and characteristics.

We may disclose your personal information to a third party for a business purpose.  When we disclose information for a business purpose, we enter a contract that describes the purpose and requires the recipient to both keep that personal information confidential and not use it for any purpose except for performing the contract.

Personal information does not include:

• Publicly available information from government records.
• De-identified or aggregated consumer information.
• Information excluded from the CCPA’s scope, like:
• Health or medical information covered by the Health Insurance Portability and Accountability Act of 1996 (HIPAA) and the California Confidentiality of Medical Information Act (CMIA) or clinical trial data;
• Personal information covered by certain sector-specific privacy laws, including the Fair Credit Reporting Act (FRCA), the Gramm-Leach-Bliley Act (GLBA) or California Financial Information Privacy Act (FIPA), and the Driver’s Privacy Protection Act of 1994.

 

Sensitive Personal Information may include a Social Security number, driver’s license or state identification number, financial account and access credentials, precise geolocation data, or racial or ethnic information. Preferred Bank does not use or disclose Sensitive Personal Information for purposes beyond those permitted under applicable law.

The categories of sources from whom we collected this Personal Information are:

• Directly from a California resident or the individual’s representatives
• Service Providers, Consumer Data Resellers and other third parties
• Public Record Sources (Federal, State or Local Government Sources)
• Website/Mobile App Activity/Social Media
• Information from Client Directed Third Parties or Institutions representing a Client/Prospect
• Information from Corporate Clients about individuals associated with the Clients (e.g., an employee or board member)

The categories of third parties to whom we disclosed Personal Information for our business purposes described in this privacy disclosure are:

• Vendors and Service Providers
• Third Parties to whom you or your agents authorize us to disclose your personal information in connection with products or services we provide to you.
• Other Third Parties who enable customers to conduct transactions online and via mobile devices, support mortgage and fulfillment services
• Government Agencies as required by laws and regulations

 

Use of Personal Information

• Performing services, including maintaining or servicing accounts, providing customer service, processing or fulfilling orders and transactions, verifying customer information, processing payments, providing financing, providing advertising or marketing services, providing analytic services, or providing similar services.
• Detecting security incidents, protecting against malicious, deceptive, fraudulent, or illegal activity, and prosecuting those responsible for that activity.
• Short-term, transient use where the information is not disclosed to a third party and is not used to build a profile or otherwise alter an individual consumer’s experience outside the current interaction.
• Auditing related to a current interaction and concurrent transactions.
• Undertaking activities to verify or maintain the quality or safety of a service controlled by us, and to improve, upgrade, or enhance the service controlled by the business.
• Debugging to identify and repair errors that impair existing intended functionality.
• Undertaking internal research for technological development and demonstration.
• Complying with laws and regulations and to comply with other legal process and law enforcement requirements (including any internal policy based on or reflecting legal or regulatory guidance, codes or opinions)
• To evaluate or conduct a merger, divestiture, restructuring, reorganization, dissolution, or other sale or transfer of some or all of our assets, whether as a going concern or as part of bankruptcy, liquidation, or similar proceeding, in which personal information held by us is among the assets transferred.

 

Sale of Personal Information

In the past 12 months, we have not “sold” Personal Information subject to the CCPA/CPRA, including Personal Information of minors under the age of 16. For purposes of this Disclosure, “sold” means the disclosure of Personal Information to a third-party for monetary or other valuable consideration.

 

Your Rights under the CCPA/CPRA

As a California resident, you have the following rights regarding your Personal Information:

• Right to Know
You have the right to request that we disclose to you, free of charge, the categories and specific pieces of Personal Information we have collected about you over the past 12 months. You may also request information about the categories of sources from which the Personal Information was collected, the business or commercial purpose for collecting it, and the categories of third parties with whom we shared it.

• Right to Correct
You have the right to request correction of inaccurate Personal Information that we maintain about you.

• Right to Delete
You have the right to request deletion of Personal Information that we collected from you, subject to certain legal or regulatory exceptions.

• Right to Opt Out of Sale or Sharing of Personal Information:

You have the right to opt out of the sale or sharing of your Personal Information. If we sell or share any of your Personal Information, you may direct us at any time not to sell or share your Personal Information. At the time this Disclosure was last updated, Preferred Bank does not sell or share any Personal Information.• Right to Limit the Use and Disclosure of Sensitive Personal Information
You have the right to request that we limit our use and disclosure of your Sensitive Personal Information to those uses permitted by applicable law.

 

• Right to Non-Discrimination
You have the right not to receive discriminatory treatment for exercising any of your CCPA/CPRA rights.

We will acknowledge receipt of your request and advise you how long we expect it will take to respond. Requests for specific pieces of Personal Information will require additional verification of identity to protect against unauthorized access. We will make good-faith efforts to respond within 45 days, with the possibility of a 45-day extension if reasonably necessary.

 

Google Analytics

We use Google Analytics (GA) for aggregated, anonymized website traffic analysis. In order to track your session usage, Google drops a cookie (_ga) with a randomly-generated ClientID in your browser. This ID is anonymized and contains no identifiable information like email, phone number, name, etc. We also send Google your IP Address. We use GA to track aggregated website behavior, such as what pages you looked at, for how long, and so on. This information is important to us for improving the user experience and determining site effectiveness.

If you would like be removed from monitoring please delete your _ga cookies install the Google Analytics Opt-Out Browser Add-On."

 

How to Exercise Your Rights

If you are a California resident, you may submit a request by:

1. Completing an online Personal Information Request Form
2. Calling 888.673.1808

 

Questions or Concerns

You may contact us with questions or concerns about this Disclosure and our practices by:

1. Writing us at:
   Preferred Bank Headquarters
   601 S. Figueroa St. 47^th Floor
   Los Angeles, CA 90017
    
2. Emailing us at Service Inquiries

 

Changes to This California Consumer Privacy Act Disclosure

We may change or update this Disclosure from time to time. When we do, we will post the revised Disclosure on this page with a new “Last Updated” date.