Finance
In Michigan, the 'Gramm-Leach-Bliley Act' affects real estate because it:
ASets maximum mortgage interest rates
BRequires financial institutions (including mortgage lenders) to protect the privacy and security of customers' nonpublic personal information✓ Correct
CRegulates the secondary mortgage market
DProhibits predatory lending practices
Explanation
The Gramm-Leach-Bliley Act (Financial Services Modernization Act) requires financial institutions including mortgage lenders to provide privacy notices and protect customers' nonpublic personal information (name, income, SSN, account data).
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