Finance
The Gramm-Leach-Bliley Act requires financial institutions, including mortgage lenders, to:
AProvide equal credit opportunities to all borrowers
BDisclose their privacy policies and protect nonpublic personal information✓ Correct
COffer a 3-day right of rescission on all mortgage loans
DReport all loan applications to federal regulators
Explanation
The Gramm-Leach-Bliley Act (GLBA) requires financial institutions to inform customers of their information-sharing practices and to protect the security and confidentiality of nonpublic personal financial information. This affects mortgage lenders and other financial service providers.
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