Answer: a. requires financial institutions to ensure the security of customer data.
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.
Answer:
.size of the financial institution
Explanation:
The reserve requirement is one of the monetary policies of the Fed used to increase or decrease the money supply in the economy. The Fed will require commercial banks a certain percentage of the cash deposits in their vaults as reserve. Through the reserves requirement, the Fed regulates the amount of money available to be loaned to firms and households.
The amount of reserve a bank is supposed to hold as reverse is dependent on its size. For example, small size banks whose transaction accounts are below 15.2 million are not required to hold reserve. Medium size banks that with transaction account that range from $15.2 million to $110.3 million are required to keep 3 percent of deposits as reserve. Large banks with transaction accounts above $110 million must hold 10 percent as reserve.
Answer:
b. apply for a home equity loan solutions
Explanation:
Answer and Explanation:
Classical Theory:
Classical theory states that the economy is free flowing and that there should be no outside intervention. It states that the prices and wages move up and down freely. During good times the prices and wages tend to increase and during bad times or recession the prices and wages are adjusted accordingly to downwards.
Another vital information pertaining to classical theory is that it states: economy is always at full employment level of output. Which means that the aggregate supply curve is vertical and this implies that the increase in aggregate demand or a decrease in aggregate demand will lead to increase or decrease respectively. However, the output will remain same in the economy when it comes to the classical approach.