Questions: Home Ownership and Equity Protection Act Equal Credit Opportunity Act Right to Financial Privacy Act Gramm-Leach Bliley Act requires banks to explain what information is shared with other businesses prohibits creditors from discriminating among consumers based on factors like age and marital status requires the federal government to obtain a court order to access customer financial information

Home Ownership and Equity Protection Act

Equal Credit Opportunity Act

Right to Financial Privacy Act

Gramm-Leach Bliley Act

requires banks to explain what information is shared with other businesses

prohibits creditors from discriminating among consumers based on factors like age and marital status

requires the federal government to obtain a court order to access customer financial information
Transcript text: Home Ownership and Equity Protection Act Equal Credit Opportunity Act Right to Financial Privacy Act Gramm-Leach Bliley Act requires banks to explain what information is shared with other businesses prohibits creditors from discriminating among consumers based on factors like age and marital status requires the federal government to obtain a court order to access customer financial information
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Answer
  • Gramm-Leach Bliley Act: requires banks to explain what information is shared with other businesses
  • Equal Credit Opportunity Act: prohibits creditors from discriminating among consumers based on factors like age and marital status
  • Right to Financial Privacy Act: requires the federal government to obtain a court order to access customer financial information
Explanation
Gramm-Leach Bliley Act

This act requires financial institutions to explain their information-sharing practices to their customers and to safeguard sensitive data. It is primarily concerned with the privacy of consumer financial information.

Equal Credit Opportunity Act

This act makes it unlawful for creditors to discriminate against applicants based on race, color, religion, national origin, sex, marital status, age, or because they receive public assistance. It ensures fair access to credit for all consumers.

Right to Financial Privacy Act

This act provides that the federal government must obtain a court order or the customer's consent to access their financial records from a financial institution, thereby protecting the privacy of personal financial information.

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