The 1999 Gramm-Leach-Bliley Act specified that consumers of financial services had to "opt out" in writing if they didn't want financial-services companies sharing their "nonpublic" (private) information with others.

Question

Quizplus · Accepted Answer

The Gramm-Leach-Bliley Act (GLBA) indeed requires financial institutions to provide their customers with a privacy notice that explains what personal information they collect, where they share it, and how they protect it. Customers must be given the option to "opt out" of having their information shared with nonaffiliated third parties, but the act does not require that this opt-out be done in writing; methods for opting out can include phone calls or web forms, depending on the institution's policies.

The 1999 Gramm-Leach-Bliley Act Specified That Consumers of Financial Services