the gramm-leach-bliley act includes three key rules that affect personal privacy: financial privacy rule, safeguards rule, and pretexting rule. true false

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10-11-2022
Social Studies

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the gramm-leach-bliley act includes three key rules that affect personal privacy: financial privacy rule, safeguards rule, and pretexting rule. true false

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AmishaSrivastava AmishaSrivastava · Answer 1 · 2022-11-14T09:58:26-05:00

True, the Gramm-leach-Bliley act includes three key rules that affect personal privacy: financial privacy rule, safeguards rule, and pretexting rule.

What is Gramm-leach-Bliley act ?

The Gramm-Leach-Bliley Act requires financial institutions (companies that provide financial products or services to consumers, such as credit, financial or investment advice, and insurance) to explain their information-sharing practices to their customers and Obliged to protect.
Financial Privacy Regulation. Also known as the Privacy Regulation, the regulation sets requirements on how organizations collect and disclose personal financial information. protection rules. pretend rules.
This law applies to many types of financial institutions. This law applies to banks, savings and loan associations, credit unions, insurance companies and securities companies.
GLBA requires entities that qualify as “financial institutions” to take a number of positive steps to prevent the unauthorized collection, use and disclosure of NPIs. These obligations are imposed under two “rules” at (i) the Privacy Rule and (ii) the Security Rule.

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