True or False: Financial institutions are allowed to disclose consumer information without consent at any time.

The statement that financial institutions are allowed to disclose consumer information without consent at any time is false. Financial institutions are bound by various regulations, such as the Gramm-Leach-Bliley Act and the Fair Credit Reporting Act, which set strict guidelines regarding the sharing of consumer information. These laws require financial institutions to safeguard personal information and generally require consumers' consent before disclosing their information to third parties.

There are specific exceptions where disclosure may be permissible without explicit consent, such as in cases of legal requirements or emergencies, but these situations do not justify unrestricted disclosure at any time. Therefore, the understanding that consumer information should be protected and shared only under certain conditions supports the answer that the statement is false.