Financial Services Modernization Act or GLB Regulations

The Gramm-Leach-Bliley Act of 2000 requires companies significantly involved in financial activities to provide security and confidentiality of non-public customer’s personal records and information.

This law had impacted the financial industry.

All covered businesses must be in full compliance by July 1, 2002.

Examples of non-public personal information:

1. That an individual is a customer
2. Customer’s name and address
3. Social Security Number
4. Account numbers
5. Application information
6. Consumer report information
7. Credit card information