Practice Quiz

IAPP CIPP/US Practice Exam

Category - Professional

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Which of the following California bills or laws allow a consumer to direct a financial institution not to share nonpublic personal information with third parties, including affiliated companies?
  1. Financial Services Regulatory Relief Act
  2. Financial Services Regulatory Relief Act
  3. California SB-1
  4. Both A and C
Explanation
Answer: C - California SB-1 would allow a consumer to direct a FI not to share nonpublic personal information with third parties, including affiliated companies. The Financial Services Regulator Relief Act of 2016 provides for cross-marketing and sharing nonpublic PI from their organization to affiliated financial holding companies and some affiliates.
 
Under SB-1, California citizens would have more control over sharing their nonpublic information from financial institutions to affiliates of the financial institution.
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