A company policy update raises a question about GLBA privacy requirements. Which action should the quality-control reviewer recommend?
Correct Answer
B) Limit reuse and redisclosure of consumer financial information
Nonpublic personal information must be handled under GLBA privacy limits and notices. The best answer is "Limit reuse and redisclosure of consumer financial information".
Why This Is the Correct Answer
Nonpublic personal information must be handled under GLBA privacy limits and notices. The best answer is "Limit reuse and redisclosure of consumer financial information".
More Federal Laws Questions
During intake, a borrower sends a written request for information to the servicer-designated address. What is the best compliant response?
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A branch manager asks about a loan file because a compliance analyst asks why covered mortgage application data is collected. What should happen?
Before closing, the team discovers that a compliance analyst asks why covered mortgage application data is collected. What is the safest compliant answer?
During intake, the loan schedule reaches the automatic PMI termination point. What is the best compliant response?
A renewal specialist is reviewing a mortgage file during a disciplinary-risk review. Which statement correctly handles GLBA privacy requirements?
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A compliance review finds that a borrower sends a written request for information to the servicer-designated address. What should the MLO do next?