The Privacy Rule of the Gramm-Leach-Bliley Act requires financial institutions to provide the borrower with a Consumer Privacy policy before what?

The Privacy Rule of the Gramm-Leach-Bliley Act (GLBA) is designed to protect consumers' personal financial information and requires financial institutions to be transparent about their privacy practices. The correct answer emphasizes the need for financial institutions to provide borrowers with a Consumer Privacy Policy before disclosing any non-public personal information to non-affiliated third parties.

This requirement is crucial because it ensures that consumers are informed about how their information will be used and shared, allowing them to make educated decisions about their financial relationships. By receiving the policy in advance of any disclosures, borrowers can understand their rights and the institution’s privacy practices, empowering them to take action if they are uncomfortable with the way their information may be managed.

The other options, while related to the loan process, do not encapsulate the specific timing requirement set by the GLBA. Therefore, recognizing that the act's emphasis on consumer notice before any third-party information sharing is the key aspect, makes this the correct choice.