It's interesting to notice that "My Account" replaced "View Profile" in the panel that shows up when you click the profile picture from the navigation bar. "Profile" is now a small link next to "Privacy".
Here's the old UI:
Google has a new site at privacy.google.com that answers questions about privacy and security.
"We keep your personal information private and safe – and put you in control. When you use our services, you trust us with your information. We want to start by telling you what we do with it. Data enables us to provide our services like Search, Gmail, and Maps. Data also helps us show relevant ads, so we can make our services free for everyone. Know that we do not sell your personal information. And you control the types of information we collect and use. Lastly, no one does more to keep you and your information safe and secure," informs Google.