What types of non-banking entities are covered under
the Gramm-Leach Bliley Act?
The following business activities are determined by the GBLACT regulations to be covered:
(1) Extending credit and servicing loans. Making, acquiring, brokering, or servicing loans or other extensions of credit (including factoring, issuing letters of credit and accepting drafts) for the company's account or for the account of others.
(2) Activities related to extending credit. Any activity usual in connection with making, acquiring, brokering or servicing loans or other extensions of credit, as determined by the Board. The Board has determined that the following activities are usual in connection with making, acquiring, brokering or servicing loans or other extensions of credit:
Acquiring debt in default
Arranging commercial real estate equity financing
Asset management, servicing, and collection activities
Career counseling services
Check-guaranty services
Collection agency services
Community development Agencies
Courier services
Credit bureau services
Data processing
Employee benefits consulting services
Escrow Companies
Finance company
Financial and investment advisory activities
Industrial banking
Insurance agency and underwriting
Leasing personal or real property
Management consulting and counseling activities
Money orders, savings bonds, and traveler's checks
Mortgage Bankers
Mortgage Brokers
Operating savings association
Printing and selling MICR-encoded items
Real estate and personal property appraising
Real estate settlement servicing
Securities brokerage
Small bank holding companies
Trust company functions
Underwriting and dealing in government obligations and money market instruments
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