Following institutions comes under the heading of ________________:
"¢ Institutions subject to the commodity Futures Trading Commission
"¢ The Federal Agriculture Mortgage Corporation or institutions charted and operating under the Farm credit Act
"¢ Institutions charted by Congress to engage in securitizations, secondary market sales, or similar transactions, provided that the institution does not sell or transfer nonpublic personal information to nonaffiliated third parties
The institutions listed, including those subject to the Commodity Futures Trading Commission, the Federal Agriculture Mortgage Corporation or institutions chartered under the Farm Credit Act, and institutions chartered by Congress to engage in securitizations, secondary market sales, or similar transactions, are all classified as financial institutions. These entities are involved in financial activities and are regulated as such under laws like the Gramm-Leach-Bliley Act (GLBA).
The correct answer is B. Financial institutions. The institutions listed, including those subject to the Commodity Futures Trading Commission, the Federal Agriculture Mortgage Corporation or institutions chartered under the Farm Credit Act, and institutions chartered by Congress to engage in securitizations, secondary market sales, or similar transactions (with the stipulation that they do not sell or transfer nonpublic personal information to nonaffiliated third parties), are all considered financial institutions under the definitions provided by regulations such as the Gramm-Leach-Bliley Act (GLBA). The GLBA broadly defines financial institutions to include a wide range of entities involved in financial activities.
Correct answer is C, page 1149