Which of the Following Is True Regarding the Gramm-Leach-Bliley Financial

question 21

Multiple Choice

Which of the following is true regarding the Gramm-Leach-Bliley Financial Modernization Act?

• A) It requires that financial institutions provide privacy protections to consumers, that customers be given notice before the sharing of personal information with other entities occurs, and that customers be given the right to opt out of disclosures to third parties.
• B) It requires that financial institutions provide privacy protections to consumers and that customers be given notice before the sharing of personal information with other entities occurs, but not that customers be given the right to opt out of disclosures to third parties.
• C) It requires that financial institutions avoid giving out specific information about the amount of funds in customer accounts, but other customer information may be given to third parties without providing customer notification.
• D) It addresses the amount of financial reserves a bank must hold and bank lending practices, but it does not address customer privacy concerns.

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Definitions:

Anterograde Amnesia

A condition characterized by an individual's inability to form new memories following the onset of the amnesia.

Psychogenic Amnesia

A memory disorder characterized by sudden retrograde episodic memory loss, attributed to psychological factors rather than physiological damage or dysfunction.

Emotional Memory

The aspects of memory that are associated with emotions, enabling the recollection of emotional experiences.

Amygdala

A part of the brain's limbic system involved in processing emotions, especially fear and pleasure.