What type of information must financial institutions safeguard under the Gramm-Leach-Bliley Act?

Prepare for the Alabama Title Insurance Test. Practice with flashcards and multiple-choice questions, each question has hints and explanations. Get ready for your exam!

The Gramm-Leach-Bliley Act (GLBA) primarily focuses on the protection of non-public personal information held by financial institutions. This information includes details that identify individuals, such as their names, addresses, Social Security numbers, and any financial account details. The act mandates that financial institutions implement privacy policies and practices to ensure that this sensitive information is not disclosed to unauthorized parties.

In terms of the other choices, while escrow deposits, loan proceeds, and legal documents like warranty deeds and closing affidavits are important aspects of financial transactions, they do not fall under the specific protections mandated by the GLBA. The act is explicitly directed towards the confidentiality and security of non-public personal information rather than the transactional data or documentation involved in financial services. Thus, understanding the core focus of the GLBA highlights why safeguarding non-public personal information is essential.

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