Our customer information sheet is clear in the consent we seek from customers: We seek authorization that allows BPI to process information to “facilitate, monitor, improve the quality” of our products and services, and to comply with “legal, regulatory, or other obligations of the bank” under all applicable laws. This is not tantamount to a waiver of customers’ rights under the Data Privacy Law.
As with all financial institutions, for a limited number of our customers, we also ask for consent to disclose information in order to comply with directives of the US Foreign Account Tax Compliance Act .
In light of the recent implementing rules of the Data Privacy Law, we are actively engaged with all regulators, including the National Privacy Commission, in ensuring that BPI delivers the highest standards of service to its customers, while complying with all applicable rules and regulations.