Which federal law primarily governs the privacy of consumer financial information in mortgage lending?
Correct Answer
C) Gramm-Leach-Bliley Act (GLBA)
The Gramm-Leach-Bliley Act (GLBA) is the primary federal law governing the privacy and confidentiality of consumer financial information, including mortgage loan data. It requires financial institutions to protect nonpublic personal information.
Why This Is the Correct Answer
The Gramm-Leach-Bliley Act (GLBA) is the primary federal law governing the privacy and confidentiality of consumer financial information, including mortgage loan data. It requires financial institutions to protect nonpublic personal information.
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