Question: The Gramm - Leach - Bliley Act is a piece of legislation that mainly affects the financial industry. A portion of that legislation, though, includes

The Gramm

-

Leach

-

Bliley Act is a piece of legislation that mainly affects the financial industry. A portion of that legislation, though, includes privacy provisions for individuals. The provision provides for opt

-

out methods so that individuals can control the use of information provided in a business transaction with an organization that is part of the financial institution. The GLBA restricts information sharing with third

-

party firms.

Research GLBA and answer the following questions:

Who must comply with this law?

What are some penalties for non

-

compliance with GLBA?

What is the Financial Privacy Rule?

What is the

Safeguards Rule?

According to the GLBA Data Protection Rule, what are some things that financial institutions must protect?

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