How should a PLM handle consumer privacy in Utah mortgage transactions?

• A. Protect personal information, follow privacy laws, and prevent unauthorized access or disclosure
• B. Share customer information with marketing vendors
• C. Post policies publicly on social media
• D. Keep data unencrypted to ease access

Answer: (A)

Protecting consumer privacy in Utah mortgage transactions means safeguarding personal information, following privacy laws, and preventing unauthorized access or disclosure. This is the best choice because it directly reflects what a PLM must do: implement reasonable safeguards for personal data, comply with applicable privacy laws (such as Utah’s privacy statutes and the GLBA Safeguards Rule), limit who can access information, encrypt and securely store data, and ensure third-party vendors also protect data. Sharing information with marketing vendors would introduce unnecessary risk and typically requires consumer consent. Posting policies on social media does not address actual data protection and security, and keeping data unencrypted leaves information exposed and violates fundamental security practices and legal obligations. The correct approach treats privacy as an integral part of the lending process.