Gramm-Leach-Bliley

FCRA established business relationship

A telemarketer may call a consumer with whom he has an established business relationship EBR up to 18 months after the consumers last purchase delivery or payment even if the consumers number is on DNC

GLB title V apply to

Financial institutions banks, securities firms insurance companies companies providing other financial products and services to consumers lending brokering or servicing consumer loan transferring or safeguarding money preparing individual tax returns providing financial or credit counseling providing residential real estate settlement service

Graham Leach Bliley a.k.a.

Financial services modernization act of 1999

GLB financial privacy rule

Governs the collection and disclosure of customers personal financial information known as nonpublic personal information

DNC internal list

If A consumer request to be removed from the company's internal DNC list the company may not, call even if there is an EBR. Applies only to solicitation for new business.

Types of nonpublic personal information

Info on an credit or job application data about the individual from an outside source such as a credit bureau transactions history Consumer or customer status

Customer privacy policy

Noticed provided to the customer explaining the lenders information collection procedures and information sharing entrance for practices. A financial institution must disclose it a policy to customers before they disclose personal information disclosed the policy annually for customers throughout the financial relationship and provide the consumer instructions on how to opt out of having his information shared

DNC Registry who is not limited

Political organizations charities

Graham Leach Bliley title V

Privacy of consumer financial information

GLB pre-texting provisions

Protect consumers from individuals and companies that obtain their personal financial information under false pretenses

GLB safeguards rule

Requires all financial institutions to design and implement and maintain safeguards to protect customer information

DNC registry who governs

Telemarketers who call consumers to offer or provide goods or services to consumers in exchange for payment

GLB gives power to eight federal agencies to:

enforce title V privacy

National do not call registry (DNC)

Applies to any plan program or campaign to sell goods or services through interstate phone calls

Difference between a consumer and a customer

Consumer an individual who obtains a financial product or service from a financial institution for personal family or household recent usually a one time transaction A customer is a consumer with a continuing relationship with a financial institution

DNC updating rules

DNC list must be updated every three months and the internal DNC must be updated every 31 days

DNC violations

DNC violations can be find up to $16,000 per incident