Gramm-Leach-Bliley Act (GLB)


Jurisdiction of this law:
USA

Type of Rule:
Law

Popular name:
Gramm-Leach-Bliley Act (GLB)

Official name:
Gramm-Leach-Bliley Act (GLB)

Other names:
The Financial Modernization Act of 1999, GLB Act

For more information:
Library of Congress official site:
http://thomas.loc.gov/cgi-bin/query/z?c106:S.900.ENR:

Federal Trade Commission on The Gramm-Leach-Bliley Act:
 http://www.ftc.gov/privacy/privacyinitiatives/safeguards.html

Information from the US Senate:
 http://banking.senate.gov/conf/

FTC information:
 http://www.ftc.gov/privacy/privacyinitiatives/glbact.html

FTC FAQs:
 http://www.ftc.gov/privacy/glbact/glb-faq.htm



Description:
The Gramm-Leach-Bliley Act is a law to protect the financial information of consumers. This applies not only to financial institutions such as banks but to companies that offer other types of financial services. There are three parts to this Act : The Financial Privacy Rule, The Safeguards Rule and The Pretexting provisions. The Financial Privacy Rule regulates the collection and sharing of individual financial information by financial institutions. The Safeguards Rule mandates that financial institutions must have programs in place to protect such financial information. Pretexting provisions state that this private information may not be accessed by using false reasons.


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Copyright 2004-2008 The Data Governance Institute, LLC. All Rights Reserved
The site is brought to you in partnership with the Business Intelligence Network

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