Under the , financial institutions must provide a privacy notice to each consumer that explains what data about the consumer is gathered, with whom that data is shared, how the data is used, and how the data is protected.
A) Fair Credit Reporting Act
B) Health Insurance Portability and Accountability Act
C) Gramm-Leach-Bliley Act
D) USA PATRIOT Act

Question

Quizplus · Accepted Answer

The requirement to provide a privacy notice to consumers explaining the collection and use of their data is a provision of the Gramm-Leach-Bliley Act (GLBA). The Fair Credit Reporting Act (FCRA) regulates the collection and use of consumer credit information, the Health Insurance Portability and Accountability Act (HIPAA) regulates the privacy and security of medical information, and the USA PATRIOT Act is primarily concerned with anti-terrorism measures.

Under the , Financial Institutions Must Provide a Privacy Notice