3.125- What is Permissible use of non-public information regarding a customer?

An offer of employment, offer of financial service to include Insurance, Extension of credit, a background check for the grant of a state or federal license are some of permissible purposes to obtain and for the use of non public information with prior consent of the individual.

The Gramm-Leach-Bliley Act (GLBA) mandates financial institutions to provide a notice to its customers regarding its privacy policies and non-sharing of the non public information.

Related Topics: What is the Gramm-Leach Bailey Act? What are Prohibited Acts? Explain the consequences of Violations of Gramm-Leach Bliley Act

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