312-49 · Question #402
The objective of this act was to protect consumers personal financial information held by financial institutions and their service providers.
The correct answer is D. Gramm-Leach-Bliley Act. The Gramm-Leach-Bliley Act (GLBA) of 1999 requires financial institutions to explain how they share and protect customers' private financial data and to implement safeguards against unauthorized access. HIPAA (A) protects health information, not financial data. Sarbanes-Oxley…
Question
The objective of this act was to protect consumers personal financial information held by financial institutions and their service providers.
Options
- AHIPAA
- BSarbanes-Oxley 2002
- CCalifornia SB 1386
- DGramm-Leach-Bliley Act
How the community answered
(41 responses)- A2% (1)
- B7% (3)
- C2% (1)
- D88% (36)
Explanation
The Gramm-Leach-Bliley Act (GLBA) of 1999 requires financial institutions to explain how they share and protect customers' private financial data and to implement safeguards against unauthorized access. HIPAA (A) protects health information, not financial data. Sarbanes-Oxley (B) focuses on corporate accounting integrity and financial reporting. California SB 1386 (C) was a state-level data breach notification law, not a federal financial privacy mandate.
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