Ann, a customer, received a notification from her mortgage company stating her PII may be shared with partners, affiliates, and associates to maintain day-to-day business operations. Which of the following documents did Ann receive?
A. An annual privacy notice. Ann received an annual privacy notice from her mortgage company, which is sent out to customers to inform them of their PII may be processed, shared, or stored by the company's partners, affiliates, and associates. The notice also outlines the rights customers have with regards to their personal data.
An annual privacy notice is a document that organizations, including financial institutions such as mortgage companies, provide to their customers to inform them about their privacy practices and how they handle customer information. This notice typically outlines the types of information collected, how it may be shared, and the choices the customer has regarding the use and sharing of their information.
In this case, the privacy notice informs Ann that her PII may be shared with the mortgage company's partners, affiliates, and associates for business operations purposes. This is a common practice for many companies to maintain their day-to-day operations or to provide necessary services related to the customer's mortgage.
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