Why It Matters
GLBA focuses on preventing data breaches that expose sensitive financial information and maintaining consumer trust in financial institutions.
Compliance
GLBA
Gramm-Leach-Bliley Act
What GLBA Is
GLBA is a U.S. federal law that requires financial institutions to protect consumer financial information and clearly explain how that data is safeguarded.
Background & History
Passed in 1999, GLBA modernized financial regulations while introducing the Safeguards Rule, which mandates administrative, technical, and physical protections for customer data.
Industries That Commonly Need GLBA
Banks and credit unions
Mortgage lenders and brokers/p>
Wealth management firms
Accounting and tax firms
Financial service providers