§ 527.10 — Confidentiality

Iowa § 527.10

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 527: ELECTRONIC TRANSFER OF FUNDS

Text

1. A satellite terminal, data processing center, or central routing unit shall not be operated
in any manner to permit any person to obtain information concerning the account of any
personwithafinancialinstitution, unlesssuchinformationisessentialtocompleteorprevent
the completion of a transaction then being engaged in through the use of that facility.
2. Afinancialinstitution, dataprocessingcenter, centralroutingunit, orotherpersonshall
not disseminate any information relating to the use of a multiple use terminal without the
writtenauthorizationoftheretaileronwhosepremisestheterminalislocated,oroftheowner
or operator of the terminal or the financial institution controlling the terminal. This section
shall not, however, prohibit or restrict the use of information received in the processing,
authorization, or rejection of a requested electronic funds transfer transaction, where such
use is necessary or incidental to the processing, authorization, or rejection, or to reconciling
disputes or resolving questions raised by a retailer, financial institution, consumer, or any
other person regarding the transaction.

Legislative History

[C77, 79, 81, §527.10]