What does Gramm-Leach-Bliley Act do?
The Gramm-Leach-Bliley Act requires financial institutions – companies that offer consumers financial products or services like loans, financial or investment advice, or insurance – to explain their information-sharing practices to their customers and to safeguard sensitive data.
How many titles does Glba act have?
106–102 (text) (pdf), 113 Stat. 1338, enacted November 12, 1999) is an act of the 106th United States Congress (1999–2001)….Gramm–Leach–Bliley Act.
| Citations | |
|---|---|
| Titles amended | 12 U.S.C.: Banks and Banking 15 U.S.C.: Commerce and Trade |
Who enforces the Gramm Leach Bliley Act?
The FTC
The FTC is one of the federal agencies that enforces provisions of Gramm-Leach Bliley, and the law covers not only banks, but also securities firms, and insurance companies, and companies providing many other types of financial products and services.
How many titles are there in Glba act?
The Gramm–Leach–Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999, ( Pub. L. 106–102 (text) (pdf), 113 Stat. 1338, enacted November 12, 1999) is an act of the 106th United States Congress (1999–2001)….Gramm–Leach–Bliley Act.
| Citations | |
|---|---|
| Titles amended | 12 U.S.C.: Banks and Banking 15 U.S.C.: Commerce and Trade |
Who does GLBA apply to?
The GLBA applies to “financial institutions,” a term that includes any business that deals in financial activities, from mortgage lenders to car dealers. In general, if your business deals in loans, debt collecting, real estate settlement or financial advice, then the GLBA likely applies to you.
What does GLBA stand for in government category?
The Gramm-Leach-Bliley Act ( GLBA ), also known as the Financial Services Modernization Act of 1999, ( Pub.L. 106-102, 113 Stat. 1338, enacted November 12, 1999) is an act of the 106th United States Congress (1999-2001).
What is the purpose of the GLBA?
GLBA was enacted in 1999 for the purpose of implementing adequate security controls and processes pertaining to how organizations store, access and transmit confidential financial information of individuals.
What is GLBA compliance?
GLBA Compliance. GLBA, known as the Gramm-Leach-Bliley Act, (aka the Financial Services Modernization Act) repealed the long-standing Glass-Steagall Act which barred banks from providing investment and insurance services.
