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During a disclosure desk review, the loan team encounters a GLBA Privacy Requirements issue. Which response should resolve the issue before the file moves forward?

Correct Answer

D) Follow privacy notice and opt-out requirements

Nonpublic personal information must be handled under GLBA privacy limits and notices. The best answer is "Follow privacy notice and opt-out requirements".

Answer Options
A
Use an internal exception instead of the required federal disclosure or timing rule.
B
Apply the correct general concept to the wrong document-retention stage rather than the GLBA Privacy Requirements rule.
C
Rely on oral agreement when the rule requires documented compliance.
D
Follow privacy notice and opt-out requirements

Why This Is the Correct Answer

Nonpublic personal information must be handled under GLBA privacy limits and notices. The best answer is "Follow privacy notice and opt-out requirements".

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