MORTGAGEBROKER mbabc.ca fall 2015 | 43
The Takeaway
A mortgage broker needs to collect
considerable and sensitive personal information
to perform his or her services. A broker who
does not take reasonable steps in collecting and
protecting this information or in reacting to an
inadvertent disclosure of the information may
be setting the stage for clients to commence
legal action against the broker for breach
of privacy. e Bank in this case was lucky
that no damages were proved. One can only
imagine how much the damages might have
been had the ex-husband opened the mail or
the customer had otherwise suffered a loss. No
broker wants to be put in the position of
being part of such an inquiry.
A broker should collect only the
information he or she needs, take reasonable
steps to protect the information during storage,
store the information safely, not use or disclose
the information except as permitted, and
dispose of the information in a timely and
safe way.
clientconfidential
