Gramm-Leach Bliley Act

GLB Act

A federal law enacted in the US to control the ways that financial institutions deal with the private information of individuals

GLB Act

Also know as the Financial Modernization Act of 1999

GLB Act

Requires such companies to five customers written privacy notices that explain their information-sharing practices and to safeguard sensitive date

Consists of Three Rules

1. The Financial Privacy Rule, which regulates the collection and disclosure of private financial information 2. The Safeguards Rule, which stipulates that financial institutions must implement security programs to protect such information 3. The Pretexting provisions, which prohibit the practice of pretexting (Accessing private information using false pretenses)