CIPP/US: Certified Information Privacy Professional/United StatesDemo

Question

Under what conditions may a financial institution share consumer information with nonaffiliated third parties for marketing purposes?

A After disclosing information-sharing practices to customers and after giving them an opportunity to opt in.
B After disclosing marketing practices to customers and after giving them an opportunity to opt in.
C After disclosing information-sharing practices to customers and after giving them an opportunity to opt out.
D After disclosing marketing practices to customers and after giving them an opportunity to opt out.

Explanation

Under the Gramm-Leach-Bliley Act’s Financial Privacy Rule, a financial institution generally must disclose its information-sharing practices and give consumers an opportunity to opt out before sharing nonpublic personal information with nonaffiliated third parties outside an applicable exception. FTC Financial Privacy Rule

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CIPP/US: Certified Information Privacy Professional/United StatesDemo

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