312-49 · Question #665
Which of the following is a federal law enacted in the US to control the ways that financial institutions deal with the private information of individuals?
The correct answer is C. GLBA. The Gramm-Leach-Bliley Act (GLBA), enacted in 1999, is the US federal law that specifically governs how financial institutions collect, share, and protect the private financial information of individuals. It requires financial institutions to explain their data-sharing…
Question
Which of the following is a federal law enacted in the US to control the ways that financial institutions deal with the private information of individuals?
Options
- ASOX
- BHIPAA 1996
- CGLBA
- DPCI DSS
How the community answered
(29 responses)- A3% (1)
- C93% (27)
- D3% (1)
Explanation
The Gramm-Leach-Bliley Act (GLBA), enacted in 1999, is the US federal law that specifically governs how financial institutions collect, share, and protect the private financial information of individuals. It requires financial institutions to explain their data-sharing practices and safeguard sensitive customer data. SOX (Sarbanes-Oxley Act) focuses on corporate financial reporting and accounting fraud prevention, not individual privacy. HIPAA governs health information privacy in healthcare, not financial data. PCI DSS is an industry standard (not a federal law) for payment card data security.
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