Data Security: Privacy Test Upshot: You Fail, You're Fired

Bank Technology News, September, 2006 by Glen Fest

If you don't know reviewing credit applications for women's first names is a violation of the Equal Credit Opportunity Act, you likely can't work for Zoot Enterprises - even if the job is limited to answering the phone or sorting mail.The same holds true for failing to know the only legal inquiry type available to creditors ("permissible purpose"), or what the FACT Act governs.

Erecting a hurdle normally reserved for CSRs, network administrators or loan officers, Zoot requires all its employees, from administrators to C-levels, to pass an annual certification exam on consumer data privacy regulations. It's no cakewalk, either: the minimum passing score is 90 to gain or maintain employment at the credit decisioning technology firm. "Personally, I thought it was hard," admits...

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