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KonstantinChe [14]
2 years ago
12

The Model Privacy notice was introduced in 2010. Which statement about the notice is true?

Business
1 answer:
Ivahew [28]2 years ago
7 0

Answer:

The Model Privacy Notice was introduced in 2010. The statement which is true about the notice is as follow:

  • It was created following consumer testing to provide customers with a format that makes a bank's privacy practices more understandable and more easily compared with other bank's practices.

Explanation:

  • The Model Privacy Notice is such a form that was created to tell the people that how your personal information is collected and share by the financial institutions.
  • The statements like "It was mandatory for all financial service providers to use this Model effective 1/2011" and "Using the model does not provide a financial institution with a safe harbor" are false according to the Model Privacy Notice.
  • Because the use of this model is not mandatory rather it is optional and it does provide safe harbor to the financial institutions.

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