Index
Financial PrivacyUnited States

Gramm-Leach-Bliley Act (GLBA)

Summary

Requires financial institutions to explain their information-sharing practices to their customers and to safeguard sensitive data.

Rights & Rules

  • 01.
    Right to receive a privacy notice every year.
  • 02.
    Right to opt out of some sharing of personal information with third parties.
  • 03.
    Protection of financial data via strict security standards.

Penalties

  • 01.
    Civil penalties for the institution of up to $100,000 per violation.
  • 02.
    Officers and directors can be personally fined up to $10,000 per violation.

Verified Citations

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