GLB ACT (REG P)

privacy notice requirements include categories of NPIs? the ______ to whom we disclose? categories of info disclosed to? disclosures required by?

1. collected and disclosed 2. affiliates and non-affiliates third-parties 3. third-partys 4. Fair Credit Reporting Act

If consumer request their # be placed on a company-specific list then the company has?

30 days to do so

Companies must update their call lists by reviewing Registry at least once every?

31 days

Telemarketers cannot make solicitation calls outside the hours of?

8am-9pm

Enforcement of the GLB ACT is through?

Consumer Financial Protection Bureau

The Do-Not-Call Implementation Act authorized the creation and establishment of?

Do-Not-Call-Resistry and Do-Not-Call restrictions

what information does NPI include?

Name SSN Address Other info on loan app

A consumer who does not want to receive a phone call from telemarketers must submit their # to?

National registry

GLB ACT -Gramm leach Bliley Act was implemented through which regulation?

P

The privacy notice under the GLB Act is referred to the?

Privacy of consumer Financial Information Rule

Do-not-call Implementation Act falls under the?

Telemarketing Sales Rule

Nonpublic Personal Information or (NPIs) is any personally-identifiable financial info that?

a financial institution obtains in connection with providing a financial product or service, unless that info is publicly available

Violating the telemarketing sales rule gets?

a fine of $43,280 for every violation (each phone call)

NPI includes info on any info derived from the loan origination process such as?

account numbers payment history loan balances credit card purchases credit report

Under GLB Act a customers must receive a privacy notice?

annually

Personally identifiable financial information is info provided to a financial institution by a?

consumer in connection with a credit transaction, or information secured by the financial institution in connection with such transaction

According the GLB Act privacy notices are clear and conspicuous and have different requirements for?

consumers and customers

The GLB Act along with the Federal Trade Commission has regulatory authority and sets standards for?

developing, implementing and maintaining reasonable administrative, technical and physical safeguards to protect the security, confidentiality and integrity of customer info

A consumer under the GLB Act is an individual who obtained a financial product or service from a?

financial institution for personal, family, or household reasons, but does not have an ongoing relationship with the institution.

The GLB Act applies to all?

financial institutions over which the federal trade commission has regulatory authority

Under the safeguard rule a financial institution must... evaluate and regularly update the program based on changing factors including changes in the?

firm's business arrangements, operations, or monitoring of the program

Customer under GLB Act is a consumer whom the?

institution has a continuing relationship with

A phone # remains on registry until?

it is removed or service is discontinued

Under GLB Act a institution must provide consumers and customers what?

opt-out opportunity , and instructions on how to do so (needs a reasonable time and method to opt-out)

What are exemptions from the telemarketing sales tule (Do-Not-Call Rules)?

political calls, charities, business relationship calls, annd those who provided consent for telemarketing calls

The GLB act was enacted to protect the?

privacy of consumer personal information

Under the safeguard rule a financial institution must design and implement a safeguard?

program and monitor it regularly

An established business relationship under the telemarketing sales rule is in which the the consumer has?

purchased, rented, or leased goods/services and financial transactions from the seller within 18months proceeding a telemarketing call or made an inquiry into the business of the seller within 3 months proceeding a telemarketing

Safeguard Rule puts into place the document?

security requirement relating to NPI, as set forth by GLB ACT

Under the safeguard rule a financial institution must select appropriate? and they need to?

service providers, and require them to safeguard consumers' personal information

Under the GLB act all consumers must receive a privacy notice if institution intends on?

sharing the consumers NPIs with non-affiliated third parties, but if not nothing is required

Under the safeguard rule a financial institution must designate one more employees to oversee?

the information security program

Under the GLB Act all customers must be provided with a privacy notice to. make it clear of?

the institutions practices for sharing NPIs with info shared to third-parties, and it is due at the time a customer relationship is started