Customer privacy policies can help ward off wrongdoing

Description

Abstract: It’s surprising how many dealer management systems allow carte blanche access to customer files. This is an open invitation to identity theft. This article shows how to implement important safeguards — whether physical or online — and how to properly retain or dispose of data. A sidebar discusses a situation in which a mortgage broker paid a significant fine for improperly disposing of sensitive customer records; dealers have access to similar information and should take heed.