It is usually found in the Note section attached to a relevant section of the Code, usually under a paragraph identified as the "Short Title". 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. Amendment by Pub. \ The 20th undesignated paragraph of section 9 of the Federal Reserve Act (12 U.S.C. 6801 et seq.) (b). 2 0 obj others, or safeguarding financial assets other than money. Youve cast your vote. Contributing writer, <>stream WebV, Gramm-Leach-Bliley Act (15 U.S.C. ACT But if you're looking for a risk assessment specifically tailored to Federal cybersecurity mandates like the GLBA, the Federal Financial Institution Examination Council (FFIEC) has you covered. Thank you for joining the GovTrack Advisory Community! prohibits obtaining customer information of a financial institution by false pretenses. (1971)) as to the construction and the purposes of such provisions. 0000008401 00000 n The GrammLeachBliley Act (GLBA) provides customers to have secured information by financial institutions. 0000005709 00000 n M?cW endobj Each report submitted to the Congress under subsection (a) shall contain a detailed description of the basis for the determination or extension. Part 314 use the terms customer and customer information. For the purpose of an institutions or servicers compliance with GLBA, customer information is information obtained as a result of providing a financial service to a student (past or present). Please help us make GovTrack better address the needs of educators by joining our advisory group. The Infosec Institute outlines ten top-level steps your infosec or IT organization needs to take in order to be GLBA compliant: A risk assessment is an important part of the threat modeling process that many infosec teams do as a matter of course. WebThe Security Guidelines implement section 501 (b) of the Gramm-Leach-Bliley Act (GLB Act) 4 and section 216 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act). or securities. The objectives of the GLBA standards for safeguarding information are to . At its top level, it divides the world of legislation into fifty topically-organized Titles, and each Title is further subdivided into any number of logical subtopics. 1843(c)(8)) is amended to read as follows: (8) shares of any company the activities of which had been determined by the Board by regulation or order under this [ 1] The GLBA provides a framework for regulating the privacy and data security practices of a broad range of financial institutions. is the Gramm-Leach-Bliley Act, or 0000003542 00000 n Franchisee Conversations with Chair Khan and Cmr. An Inquiry into Cloud Computing Business Practices: The Federal Trade Commission is seeking public comments. Orderly wind-down of existing affiliation. Postsecondary institutions and third-party servicers must protect student financial aid information provided to them by the Department or otherwise obtained in support of the administration of the Federal student financial aid programs (Title IV programs) authorized under Title IV of the Higher Education Act of 1965, as amended (HEA). Gramm Please join our advisory group to let us know what more we can do. GRAMMLEACHBLILEY ACT - Congress Gramm Gramm Text 378) by the Supreme Court of the United States in the case of Investment Company Institute v. Camp (401 U.S. 617 et seq. The Gramm Leach Bliley Act (GLB or GLBA) was enacted in 1999. 8 0 obj Also, Sections 131-133 of the Act (15 U.S.C. Ensure the security and confidentiality of student information; Protect against any anticipated threats or hazards to the security or integrity of such information; and. As these descriptions should make clear, getting ready for the GLBA is a big effort, but it will largely overlap with needed cybersecurity measures that any institution should be taking. Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity.
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