GLBA requires which of the following?

• A. Privacy notice, safeguards rule, limits on sharing information
• B. Flood determination, insurance for SFHA, borrower notice
• C. Mortgage licensing and education requirements
• D. Limitations on advertising

Answer: (A)

Understanding GLBA means recognizing its three core requirements for protecting consumer financial information. It requires a privacy notice that explains what information is collected, how it’s used and shared, and how consumers can limit certain sharing with nonaffiliated entities. It also mandates a safeguards rule, which means financial institutions must implement a formal security program—covering administrative, technical, and physical safeguards—to protect data. Finally, it imposes limits on sharing information, restricting how nonpublic personal information can be shared with nonaffiliates and giving consumers controls over those disclosures. Together, these elements form GLBA’s framework for privacy, security, and information sharing.

The other choices don’t fit GLBA: flood determinations and related disclosures pertain to flood insurance requirements; mortgage licensing and education requirements come from the SAFE Act; and advertising limitations are governed by other consumer-protection rules, not GLBA.