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Flashcards in The GLBA Deck (7)
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1
Q

What does GLBA stand for:

A

Gramm Leach Bliley Act of 1999 and Regulation P

2
Q

In order to protect privacy of consumer information, the GLBA requires who to give consumers privacy notices that explain their information sharing practices?

A

Financial Institutions

3
Q

Enforcement authority over the GLBA is given to who since the Dodd-Frank Act in 2011?

A

The CFPB

4
Q

What is the GLBA’s “Safeguard Rule”?

A

It requires all financial institutions to design, implement and maintain safeguards, including policies and procedures to ensure the security and confidentiality of customer information

5
Q

Other than financial Institutions, the “Safeguard Rule” applies to who?

A
  • payday lenders,
  • check-cashing businesses
  • professional tax preparers
  • auto dealers engaged in financing or leasing,
  • electronic funds transfer networks,
  • mortgage brokers,
  • credit counselors,
  • real estate settlement companies, and
  • retailers that issue credit cards to consumers.
6
Q

The Financial Privacy Rule of GLBA governs the collection and disclosure of customers’ personal financial information by financial institutions. What must they keep doing as long as someone is a customer?

A

They must provide a privacy notice automatically every year for as long as the relationship lasts.

7
Q

What does NPI stand for?

A

Nonpublic Personal Information