Legal Question in Banking Law in Illinois

We are looking at business loan, and we were required to submit personal financial statements to the bank, along with a potential business partner. The banker had a question specifically about our personal information, and he copied the other party in on the emails. The emails contained numbers off of our statements and tax returns. He did this twice! When told to stop, he didn't acknowledge it and went silent. Now our personal information is in the hands of someone who should not have it - we hadn't gotten to that level yet. What remedies are available to us? Is there compensation or set fines for this type of breach?


Asked on 5/04/10, 7:15 pm

1 Answer from Attorneys
Kenneth Goetz

First check to be sure that you didn't waive rights to confidentiality in any service agreement with the bank. It's hard to say what your damages are but you may want a remedy binding the third party from further disclosing your confidential information.

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Answered on 5/10/10, 10:17 am


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