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Related Flashcards
Cards In This Set
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Privacy notices must describe the categories of _____________ collected and disclosed by a financial instituion.
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Nonpublic personal information
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What is the purpose of The Disposal Rule?
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To protect consumer privacy and to prevent fraudulent actions, such as identity theft, from occurring as a result of the improper disposal of consumer information, including consumer reports and information, derived from consumer reports
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CONSUMER
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An individual
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CONSUMER REPORT
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Information obtained from a consumer reporting agency or other reports that are used, or expected for use, in establishing a consumer's eligibility for credit, employment, insurance, or other such purposes.
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DISPOSAL
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The discarding or abandonment of consumer information, or the sale, donation, or transfer of a computer, or other equipment or material on which consumer information is stored.
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According to the Fair Credit Reporting Act, mortgage brokers and mortgage lenders that do not service loans are _________ that can be obtained from consumer reports.
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Users of personal financial information
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The Purpose of the Gramm-Leach-Bliley Act
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Is to ensure that financial institutions protect nonpublic personal information of consumers.
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The purpose of The Safeguards Rule
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To ensure the protection of the privacy of personal information with the creation, implementation and maintenance of an effective security program.
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The purpose of The Disposal Rule
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To protect consumer privacy and to prevent fraudulent actions from occurring.
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Information protected by _____________ includes nonpublic personal information.
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The Gramm-Leach-Bliley Act
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_______________ protects all customer information.
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The Safeguards Rule
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_______________ protects information including consumer reports and information derived from consumer reports
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The Disposal Rule
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Insitutions covered by The Gramm-Leach-Bliley Act are _________
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Financial Institutions
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Institutions covered by The Safeguards Rule include __________
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All the financial institutions that are within the FTC's jurisdiction, including mortgage brokers.
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Institutions covered by the Disposal Rule include ________________
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Any person over which the FTC has jurisdiction, and who maintains or possesses consumer information for a business purpose.
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