Which of the following is NOT a responsibility of financial institutions under the Gramm-Leach-Bliley Act?

Prepare for the Florida Title Insurance Exam. Use flashcards and multiple choice questions with hints and explanations. Get ready to pass your exam!

The Gramm-Leach-Bliley Act (GLBA) outlines specific responsibilities for financial institutions to protect consumers' nonpublic personal information (NPI). One of the key obligations under the GLBA is to safeguard NPI, ensuring that personal and financial data is kept secure from unauthorized access or disclosure. Additionally, financial institutions are required to provide privacy notices to customers, informing them about their privacy policies and practices regarding the handling of personal information.

Another important responsibility is to assess risks to customer information, which involves evaluating potential vulnerabilities and implementing measures to mitigate those risks. This proactive approach protects customer data and ensures compliance with the GLBA.

Tracking public opinion, however, is not a stipulated responsibility under the Act. While financial institutions may indeed be interested in public sentiment for business strategies and customer relations, it is not a requirement or responsibility outlined in the Gramm-Leach-Bliley Act. Therefore, the option concerning tracking public opinion is not a responsibility of financial institutions under this legislation.

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