What is GLBA?

The Gramm-Leach-Bliley Act (GLBA) requires financial institutions to explain their information-sharing practices to their customers and to safeguard sensitive data.

Key Provisions of GLBA

• Financial Privacy Rule: Requires financial institutions to provide privacy notices to their customers.
• Safeguards Rule: Requires financial institutions to implement security programs to protect customer information.
• Pretexting Protection: Protects consumers from individuals attempting to access their personal information under false pretenses.

Understanding GLBA is crucial for financial institutions to ensure compliance and protect consumer data.