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Privacy and Data Security Policy
Privacy and Data Security Policy
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This Privacy and Data Security Policy ensures compliance with Consumer Financial Protection Bureau (CFPB) regulations and other applicable privacy laws. It establishes guidelines for the responsible collection, use, storage, and protection of consumer data, promoting transparency and safeguarding sensitive information.
Key Highlights:
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Scope: Applies to all employees, contractors, third-party vendors, and systems managing consumer data, including personally identifiable information (PII) and sensitive personal information (SPI).
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Privacy Principles: Emphasizes transparency, consent, data minimization, and purpose limitation in data handling.
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Security Standards: Implements role-based access control (RBAC), multi-factor authentication (MFA), encryption, and secure storage measures.
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Consumer Rights: Provides consumers with access, correction, opt-out, and deletion rights for their personal data.
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Incident Management: Establishes processes for reporting, investigating, and containing data breaches, along with notifying affected consumers and regulatory authorities.
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Training and Monitoring: Mandates regular employee training and audits to ensure adherence to data security practices.
This policy promotes consumer trust and ensures robust protections for sensitive data, supporting compliance and operational integrity.
