What Does “GLBA Compliance Trained And Background Screened” Mean?
Gramm-Leach-Bliley Act (GLBA) regulations require organizations to protect themselves against unauthorized access, anticipated hazards and risks threatening the security or integrity of consumer financial information. To comply with this law and the Interagency Guidelines that have been set, some financial and lending institutions have begun to require regulatory compliance training and background screening for all persons involved in the lending process and who render real estate settlement services. Since Loan Signing Agents have access to consumers’ private and financial information, many lenders now require notaries to receive regulatory compliance training (typically a Certified Loan Signing Agent has satisfied the educational requirements) and to submit to a background check (in addition to the background check completed by the state when the Notary acquires or renews a commission).
