is the Gramm-Leach-Bliley Act, or See also infra discussion at section II.A. Integrity Security & Investigation Services, Inc. Superior Mortgage Corp., In the Matter of, Sunbelt Lending Services, Inc., In the Matter of, Nationwide Mortgage Group, Inc., and John D. Eubank, In the Matter of. 3106(c)) is amended by striking paragraph (3). 0000001782 00000 n "6hfeLT*RWCW\O^ ~UTdhD/~p(&uJUCPu~}12k$kKq!/ uC}$Bw5C|W?3pK%>S@aMiVe+JS\5vP tVZ_XOh%$ HX6fZE,)HYPo6|QZBJ%0LNNJP$@z7E+F+#}S`2?1$T&M_f ~H?Ld:92#h-2ipM#7$2`1U;V]Gobek~C&/w|udk7a+!H` Privacy of Consumer Financial Information Rule Under the Gramm-Leach-Bliley Act A Rule by the Federal Trade Commission on 12/09/2021 Document Details Printed Gramm 378) by the Supreme Court of the United States in the case of Investment Company Institute v. Camp (401 U.S. 617 et seq. We are also still on Instagram at @govtrack.us posting 60-second video summaries of legislation in Congress. Please help us make GovTrack better address the needs of educators by joining our advisory group. Final Model Privacy Form Under the Gramm-Leach-Bliley Act 0000005709 00000 n If you have questions about the Departments enforcement of the GLBA, please contact the Cybersecurity Team at fsaschoolcybersafety@ed.gov. In April of 2022, the FTC issued a new publication entitled FTC Safeguards Rule: What Your Business Needs to Know, which is meant to act as a compliance guide to ensure that entities covered by the Safeguards Rule maintain safeguards to protect the security ofcustomer information. This is, obviously, a very broad mandate, though the good news is that it's obviously also a set of best practices that any organization that retains personal data ought to be following anyway; it's also broadly similar to regulatory mandates imposed on other industries like health care, so companies covered by multiple sets of regulations shouldn't have to duplicate work. !`MBq!O!Xe=xB7p4IjPw 0jb7cZ5>$. Gramm-Leach-Bliley Act - International Association of Privacy An official website of the United States government. Sponsored item title goes here as designed, The security laws, regulations and guidelines directory, What is pretexting? For example, consumers who aren't customers are only entitled to privacy and opt-out notices if an institution makes specific plans to share those consumers' data with third parties; customers have these rights as soon as they establish a customer relationship. Franchisee Conversations with Chair Khan and Cmr. fC\huwa W.`SU`GH Gramm Leach Bliley Act is amended by striking section 45. An Inquiry into Cloud Computing Business Practices: The Federal Trade Commission is seeking public comments. GLBA related findings will have the same effect on an institutions participation in the Title IV programs as any other determination of non-compliance. 6801-6809, 6821-6827, Competition and Consumer Protection Guidance Documents, An Inquiry into Cloud Computing Business Practices: The Federal Trade Commission is seeking public comments. Please note that compliance with the GLBA requirements is not the same as compliance with NIST 800-171. ); (3)AAa covered entity or business associate governed by the privacy, security, and breach notification rules issued by the United States Department of Health and Human Services, 45 C.F.R. 78c(a)(5)(C)) is amended. Regulatory Agency. '>U,BxPL6xZg.s\ =D;2HE]^;e9IDKz|a\)d`LEo#W\nQ";aIw-_F\(/U.) /FontFile3 129 0 R >> endobj 120 0 obj << /Type /Font /Subtype /Type1 /FirstChar 32 /LastChar 151 /Widths [ 278 296 389 556 556 833 815 204 333 333 500 606 278 333 278 278 556 556 556 556 556 556 556 556 556 556 278 278 606 606 606 444 737 722 722 722 778 722 667 778 833 407 556 778 667 944 815 778 667 778 722 630 667 815 722 981 704 704 611 333 606 333 606 500 333 556 556 444 574 500 333 537 611 315 296 593 315 889 611 500 574 556 444 463 389 611 537 778 537 537 481 333 606 333 606 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 204 204 0 0 0 556 1000 ] /Encoding /WinAnsiEncoding /BaseFont /OPPKBE+NewCenturySchlbk-Roman /FontDescriptor 119 0 R >> endobj 121 0 obj << /Length 910 /Filter [ /ASCII85Decode /FlateDecode ] >> stream The publication provides valuable information such as describing what a reasonable security program should look like and goes over each of the nine required elements in greater detail. governs the Below we provide additional information about the updated requirements and definitions in the GLBA Safeguards Rule. The Act also prevents financial institutions from disclosing individuals' nonpublic personal information which is confidential. -rKER ANQ?H_aij#]Fv'E7#_#V~Fk Jn%ENi?Px&deTCQu)7n-FuzdWo/@;5F[L{v=IMbIJ 1338. WebText for S.900 - 106th Congress (1999-2000): Gramm-Leach-Bliley Act. Gramm-Leach-Bliley Act An Act to Enhance Competition in the Financial Services Industry by Providing a Prudential Framework for the Affiliation of Banks, Securities Firms, Insurance Companies, and Other Financial Service Providers, and for Other Purposes Public Law 106-102, 106th Congress, S. 900 NOTE: 113 Stat. Element 8: For an institution or servicer maintaining student information on 5,000 or more consumers, addresses the establishment of an incident response plan (16 C.F.R. WebThe Gramm Leach Bliley Act (GLBA) is a law that applies to financial institutions and includes privacy and information security provisions that are designed to protect consumer financial WebThe Gramm-Leach-Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999 (15 USC 6801 et seq. G lfD ] _#1WL~3"n[d^'Zv;f;Yah~9yea19I>~T{[1dK@=?Z~ax>8D;bc&aoF SB;\R )jmAX4p& Results of search for '(su:"United States.") AND (su:"Gramm-Leach We hope to make GovTrack more useful to policy professionals like you. From the perspective of infosec pros, though, the more immediately important aspect of the Pretexting Rule is that it requires financial services institutions themselves to take affirmative steps to prevent pretexting. 24, as amended by section 16 of the Banking Act of 1933 and subsequent amendments), section 21 of the Banking Act of 1933, or section 18(bb) of the Federal Deposit Insurance Act more narrowly than the reasoning of the Supreme Court of the United States in the case of Investment Company Institute v. Camp (401 U.S. 617 et seq. II. Webwashington state law library; town center east, building 3 243 israel road se tumwater, wa 98501 (360) 357-2136; mail: p.o. Provision allowing for exceptions after report to the Congress. Find the resources you need to understand how consumer protection law impacts your business. requires the FTC, along with the Federal banking agencies and other regulators, to issue regulations ensuring that financial institutions protect the privacy of consumers' personal financial information. 0000030139 00000 n Under the Dodd-Frank Act, this rulemaking authority transferred to the Bureau of Consumer Financial Protection (except with respect to certain motor vehicle dealers), but the FTC continues to have enforcement authority. Were looking to learn more about who uses GovTrack and what features you find helpful or think could be improved. The Safeguards Rule took effect ABOUT THE GLB ACT The Gramm-Leach-Bliley Act was enacted on November 12, 1999. Section 5136A of the Revised Statutes of the United States (12 U.S.C. The effective date for most of the changes to the Safeguards Rule is June 9, 2023. The GLBA has important implications for pretexting in a couple different respects. For instance, large educational institutions now have their GLBA compliance reviewed as part of their annual federal compliance audits that they must submit to the Department of Education.
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