Gramm-Leach-Bliley Act (GLBA) Training
Advances in "information technology" have enabled companies to collect, compile, analyze and deliver data around the world much more quickly and cheaply than ever before. These advances have given consumers better access to information, and they've given companies lower-cost and better-targeted opportunities to market and provide their goods and services.
But these technological advances have also brought new challenges to protecting information privacy. In response, Congress recently passed the "Financial Services Modernization Act" (also known as the "Gramm-Leach-Bliley Act" or "GLBA" after its Senate sponsors), which imposes significant information-privacy requirements on a broad array of "financial institutions." The Act applies not only to banks, securities firms and insurance companies, but also to other providers of financial products and services such as retailers issuing credit cards, money transmitters, check cashers, mortgage brokers, real-estate settlement services, appraisers, tax-preparation services, and even online companies that offer aggregation, funds-transfer or payment services.
Numerous federal agencies have passed regulations implementing the GLBA in somewhat different ways in different industries. This training program focuses on the privacy and security regulations passed by the Office of Thrift Supervision, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation. Because the program content is fully customizable, however, the program is readily adaptable to cover the similar regulations passed by the Securities and Exchange Commission, the Federal Trade Commission, the National Credit Union Administration, and the National Association of Insurance Commissioners, as well as individual states.
Program Summary
The topics covered in this program include:
- Overview of the GLBA
- What information is covered?
- Notice requirements
- Opt-out choice
- Opt-out exceptions
- Security requirements
- Enforcement
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Download Program Summary
