(GLBA) Gramm-Leach-Bliley Act - (SPF)

Question 1

(GLBA) Gramm-Leach-Bliley Act - (SPF)

Answer 1

Also known as “Financial Services Modernization Act” (3) Laws or Policies

1. Safeguards Rule - Requires financial institutions to design & maintain safeguards to protect consumer data
2. Protecting Rule - Protects consumers from individuals and companies that obtain their personal financial information under false, fictitious, or fraudulent pretenses
3. Financial Privacy Rule - Governs collection of nonpublic personal information and how it’s shared. Consumers have the right to “opt in/ opt out”