What are the two main categories of nonpublic personal financial information that a licensee collects?

The two main categories of nonpublic personal financial information that a licensee collects are indeed focused on information from the consumer and information about the consumer's transactions. This distinction is crucial as it encompasses both the personal details provided directly by the consumer, such as income and assets, as well as the information that results from interactions between the consumer and the financial institution, such as transaction history and account balances.

Collectively, these categories provide a comprehensive view of an individual's financial profile, which is essential for adjusters and financial institutions as they assess risk, determine eligibility, and process claims. The focus on both what the consumer shares and what is generated through financial activities helps protect consumer privacy while ensuring that accurate assessments can be made. Understanding this distinction is fundamental for anyone engaged in handling sensitive financial information in compliance with regulations.