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In the business world, personal information is an important legal area. All sorts of individuals and entities may be implicated in the release of information from credit unions -- information that is not subject to release. A credit union's reputation can be tarnished if it comes to light that personal and sensitive information about members has been improperly used or disclosed. Every financial institution today needs a dedicated compliance officer, a person who understands the breadth of privacy-oriented policy and who can authoritatively review and offer guidance on requests for the release of confidential individual information. Privacy management is becoming a full-time responsibility both from a legal perspective as well as that of safety and soundness.
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