The Gramm-Leach-Bliley Act (GLBA), Passed by the U

question 92

Multiple Choice

The Gramm-Leach-Bliley Act (GLBA) , passed by the U.S.Congress in the year 1999, allows commercial banks to:

• A)operate in all foreign countries.
• B)open new branches in Cuba.
• C)expand their business into other areas of finance, including insurance and selling securities.
• D)raise reserve requirements for other financial institutions.
• E)eliminate unit banking.

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Definitions:

Trust

Confidence in the honesty, integrity, reliability, and fairness of a person or system.

Major Institutions

Key established organizations or foundations, especially those influential in society, like schools, hospitals, or banks.

Decreased Substantially

Reduced in size, amount, or extent by a large margin.

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors, driving individuals to pursue and achieve their objectives.