Common use of NOTICE OF POTENTIAL DISCLOSURE OF NEGATIVE INFORMATION TO CONSUMER REPORTING AGENCIES Clause in Contracts

NOTICE OF POTENTIAL DISCLOSURE OF NEGATIVE INFORMATION TO CONSUMER REPORTING AGENCIES. This notice is being furnished pursuant to the Fair Credit Reporting Act (15 U.S.C. 1681) as amended by the Fair and Accurate Credit Transactions Act of 2003 (FACT Act). We may report information about your account to credit bureaus. Late payments, missed payments, overdrafts, unpaid negative balances or other defaults on your account may be reflected in your credit report. The following applies to Wire Transfer Services that you send or receive through us. Wire Transfers are subject to Article 4A of the Uniform Commercial Code, as adopted by the state whose law applies to the Account that you are using for the Wire Transfer Service ("Article 4A"). Wire Transfer Services are also subject to your Account Terms and Conditions, related documents and notices, and any applicable authorization or wire detail form, which are all incorporated herein by reference. In the event of an inconsistency between such documents and the terms herein, these provisions control those matters related to Wire Transfer Services. Notwithstanding anything to the contrary, if you are also a party to the Business Online Banking/Treasury Management Master Terms and Conditions Agreement with us, that agreement shall control Wire Transfers made using our Treasury Management services. If you have a specific agreement with us for Wire Transfer Services, these provisions supplement that agreement to the extent these provisions are not inconsistent. If you are also enrolled in Wire Transfer Services via our online banking platform, you should transmit such Wire Transfer requests using that online platform's service and its Security Procedures. However, if that online platform is unavailable, or if you desire to request a particular transfer by off-line means, then the Security Procedures referenced herein shall govern those off-line Wire Transfer requests. A "Payment Order" is an instruction to us, from or in your name, to pay or cause another financial institution to pay money to a beneficiary. A "Wire Transfer" or "Funds Transfer" is the series of transactions, beginning with any Payment Order, made for the purpose of making payment to the beneficiary of the order. Wire Transfers made pursuant hereto are not "electronic funds transfers" under Regulation E and these terms and conditions do not apply to Wire Transfers governed by the Electronic Funds Transfer Act, Federal Reserve Board Regulation E, or transfers by check, draft, or other written item, except that federal law provides for certain rights in connection with a Remittance Transfer. A "Remittance Transfer" is an electronic transfer of funds initiated from a consumer account located in the United States primarily for personal, family, or household purposes to a designated beneficiary located outside the United States. Additional disclosures may be provided at the time of a Remittance Transfer. We have cutoff times for processing Payment Orders. Cutoff times vary depending upon the type of Payment Order. We may treat Payment Orders we receive after a cutoff time as if received the next business day. We will tell you our cutoff times upon request. We are not obligated to accept any Payment Order that you give us. We may reject your Wire Transfer request if you have insufficient funds in your Account or if your Payment Order is unclear or incomplete or if for any other reason the Payment Order is unsatisfactory to us. If we accept a Payment Order you give us, we may receive payment by automatically deducting from your Account the amount of the Payment Order plus the amount of any fees for our services. We are entitled to payment on the payment or execution date. Unless your Payment Order specifies otherwise, the payment or execution date is the date we receive the Payment Order, subject to applicable cutoff times. In placing the Payment Order, you must select a financial institution ("beneficiary bank") to receive it. You may instruct the beneficiary bank to credit an account or hold the funds for the beneficiary. The beneficiary bank is responsible for following your instructions and letting the beneficiary know when the funds become available. If you specify an account number to credit, you are acknowledging the following three things: (1) you know that the beneficiary bank may credit an account based on that account number; (2) the beneficiary bank is not obligated to verify that the account number belongs to the intended beneficiary of the transfer; and (3) any losses resulting from an incorrect account number or other misidentification of the beneficiary are your responsibility and not ours.