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Before the loan advances, a compliance manager must resolve a GLBA privacy requirements issue in a state-law refresher. What should happen?

Correct Answer

C) Share borrower information only with proper authority

Nonpublic personal information must be handled under GLBA privacy limits and notices. The best answer is "Share borrower information only with proper authority".

Answer Options
A
Use an internal exception instead of the required federal disclosure or timing rule.
B
Wait until a regulator asks for the file before applying the federal requirement.
C
Share borrower information only with proper authority
D
Rely on oral agreement when the rule requires documented compliance.

Why This Is the Correct Answer

Nonpublic personal information must be handled under GLBA privacy limits and notices. The best answer is "Share borrower information only with proper authority".

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