Question

The Gramm-Leach-Bliley Act

a. requires financial institutions to ensure the security of customer data.
b. specifies best practices in information systems security and control.
c. imposes responsibility on companies and management to safeguard the accuracy of financial information.
d. outlines medical security and privacy rules.

Answer 1

Answer: a. requires financial institutions to ensure the security of customer data.

Step-by-step explanation:

The Gramm–Leach–Bliley Act (GLBA), which is also known as the Financial Services Modernization Act of 1999 is an act of the 106th United States Congress.

The Act requires that Financial Institutions such as commercial banks, investment banks, securities firms, and insurance companies under the FINANCIAL PRIVACY rule ensure that they explained their information sharing principles of their customers' information to their customers and to safeguard sensitive data.