The Gramm-Leach-Bliley Act Was Passed in 1999 by the U

question 51

Multiple Choice

The Gramm-Leach-Bliley Act was passed in 1999 by the U.S. Congress to allow:

• A)financial institutions to offer full financial services, such as insurance and investment banking, as well as traditional commercial banking.
• B)financial institutions to be sued by stockholders for off-balance sheet accounting errors.
• C)savings and loans to compete with commercial banks in both the commercial banking arena and mortgage loans.
• D)European banks to acquire U.S. financial institutions.

---

Definitions:

Post-Action Controls

The mechanisms put in place to assess the outcomes and effectiveness of actions taken, ensuring alignment with planned objectives or standards.

Ongoing Operations

The continuous activities and processes that are performed by an organization to maintain its business and services.

Feedforward

is a communication process that involves giving future-oriented feedback to help someone adjust their actions before they engage in a specific behavior.

Input-Throughput-Output Cycle

A model or process that describes how input (resources, information) is processed (throughput) to produce a certain output (products, services).