What is the Gramm-Leach-Bliley Act? Select one: a. Implements the principle that a signature, contract, or other record may not
be deleted b. Denies legal effect, validity, or enforceability solely because it is electronic form c. Addresses a myriad of legal privacy issues that were resulting from the increasing use of computers and other technology specific to telecommunications d. Makes it a violation of federal law to knowingly use another’s identity e. A major piece of legislation affecting the financial industry and containing significant privacy provisions for individuals
The correct answer is E. The Gramm-Leach-Bliley Act is a major pieace of legislation affecting the financial industry and containing significant privacy provisions for individuals.
Explanation:
The Gramm-Leach-Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999, is a US law that repealed the provisions of the Glass-Steagall Act of 1933 that provided for the separation between traditional banking and investment banking, without to alter the provisions concerning the Federal Deposit Insurance Corporation.
The law was proposed to the Senate by Phil Gramm and to the Chamber Jim Leach and Thomas J. Bliley, Jr. It was signed by President Bill Clinton on November 12th 1999.
