Chapter 9 - Lesson 2
Specialized Bank Services

Information about the privacy provisions of the Gramm-Leach-Bliley Act can be found on the web at the privacyrights.org site. Read the information to answer the following questions.

Suggested keywords: Gramm-Leach-Bliley Act, privacy rights
Web site: http://www.privacyrights.org/fs/fs24-finpriv.htm

Your Name:

Today's Date:

Question 1:
The Gramm-Leach-Bliley Act allows financial services companies to share consumers' financial information as long as the consumer is notified. Consumers have the right to opt out of this sharing, however. What is the difference between the opt out and opt in approaches? Which method is preferred by most consumer and privacy advocates?

Question 2:
Under the provisions of the Act, can medical information about consumers be shared?

Question 3:
According to the site, should consumers opt out of the data sharing allowed by the Act? Why?