Gramm Leach Bliley Act Flashcards
1
Q
Purpose of this act?
A
Puts restrictions on financial instis use of borrowers nonpublic personal info and requires disclosure before sharing or selling
2
Q
If you do share or sell to NPI what do you give the client
A
Long form notice with opportunity to opt out.
3
Q
Which of the following is NOT considered Non-Public Information?
a.) borrowers credit score
b.) co borrowers bank account
c.) co borrowers pay stub
d.) borrowers current mortgage provider
A
D.
4
Q
What is pretexting
A
impersonating someone over the phone to get their personal info
5
Q
What is the GLB fine for financial institution
A
100k
6
Q
What is the GLB fine for individual and jail time
A
10k and up to 5 years in prison
7
Q
A
