16.12.2017 10.24 GMT+0000
Under current law, financial firms can play fast and loose with significant amounts of personal financial data. Employers are a key source of financial firms access to employees’ financial information (through employer-sponsored retirement plans). So, with employers already involved in providing employees’ financial information, what can employers do to protect that data.
Employers can play an active role in protecting employees’ financial data – and, have a roadmap for doing so by looking at HIPAA.
There are few rules under current federal law to prevent financial firms from exploiting individuals’ personal financial information. Employers are a key source of financial firms access to employees’ financial information (through employer-sponsored retirement plans). So, with employers already involved in providing employees’ financial information, what can employers do to protect that data?