Privacy Frequently Asked Questions (FAQ)
This Privacy FAQ is intended to supplement the CIBC Canada Client Privacy Policy, Your Privacy is Protected. It can help you better understand our commitment to protecting the privacy and confidentiality of your information.
Depending on the situation and the sensitivity of the information, your consent may be obtained in different ways. It may be expressed in writing or implied, provided to us verbally, electronically, or through an authorized representative. For example, when you provide us with your personal information when you apply for a product or service with us, or continue to use a product or service without objection, you are consenting to the terms and conditions of our privacy-related documents and our CIBC Canada Client Privacy Policy.
Examples of consent:
- If you have a CIBC credit card and we inform you about revised terms and conditions for the card, we can conclude that you agree to those terms and conditions if you choose to continue using the CIBC credit card.
- Written: You may sign a paper application that states “By signing here, you are agreeing to all the Privacy Disclosures and Terms and Conditions in this credit application.”
- Electronic: You may be asked to electronically acknowledge that you will be bound by legal terms or agree to certain statements by selecting “I Agree.”
- Verbal: A CIBC representative asks whether you agree to us obtaining your credit bureau information. Saying you agree is your verbal consent.
Under our CIBC Canada Client Privacy Policy, CIBC may collect, use or share personal information where it is “permitted or required by law”. This includes information collected, used or shared where:
- It is permitted under applicable law without consent, such as an investigation of a contravention of the laws of Canada, a province or a foreign jurisdiction.
- It is required under other laws, such as applicable anti-money laundering and anti-terrorism laws and regulations that require the collection of certain information when you open an account with CIBC.
- It is collected, used or shared with regulators or self-regulatory organizations, such as the Office of the Superintendent of Financial Institutions (OSFI) or the Investment Industry Regulatory Organization of Canada (IIROC), in accordance with their applicable rules, codes, guidelines, expectations or requests.
- It is collected, used or shared under codes, programs or principles publicly adopted by CIBC.
The length of time we keep your information will vary depending on the product or service, and the type of information we have. We keep your information for as long as we reasonably need it for customer-service, legal or reasonable business purposes. For these reasons, we keep your information beyond the end of your relationship with us.
