Loan Officer Practice Exam 2025 – Comprehensive All-in-One Guide for Exam Success!

The Gramm-Leach-Bliley Act (GLBA) is primarily focused on protecting consumers' personal financial information. This legislation was enacted to ensure that financial institutions are transparent about their information-sharing practices and to provide consumers with a measure of control over their data. Under the GLBA, institutions are required to establish privacy policies and practices that safeguard consumer information and to provide notices to consumers that explain how their information may be shared with third parties.

This protection is crucial because it addresses concerns over the confidentiality and security of sensitive financial data, preventing unauthorized access and misuse. GLBA emphasizes the importance of safeguarding personal information to build trust between consumers and financial institutions.

In contrast, options related to commercial transactions, international transfers, and credit scores do not fall under the primary scope of the GLBA. While these areas may have other regulations or considerations, the central focus of the Gramm-Leach-Bliley Act is on the protection of consumers' personal financial information.