While personalization can be a tremendous advantage, companies using unfair information practices are taking a business risk.
Often, the question of how to gather and use information is often addressed before issues of user privacy.
Many advocates of personalization and the Personalized Model, believe that if any Web personalization were to take hold with consumers, privacy is the first and foremost concern: privacy and profit go hand-in-hand.
Consumers may start to see a new look in those important privacy rights notices that they receivein the mail each year from their banks, brokers, insurance companies and credit card issuers.
Agencies release new consumer privacy rights notice forms
WHAT NEW PRIVACY NOTICES
MEAN FOR CONSUMERS
What: Federal agencies released samples of simplified, consumer-friendly privacy rights notices that banks and other financial institutions can send to customers.