Tag Archives: Gramm-Leach-Bliley Act

Privacy Tip #151 – Can Banks Give or Sell My Information to Facebook or Other Social Media Platforms?

Many readers questioned me about the Wall Street Journal article this week entitled, “Facebook to Banks: Give Us Your Data, We’ll Give you Our Users.” The questions and comments ranged from “Can they really do this?” to “This is outrageous!” Without getting into a legal analysis, there are laws that banks have to follow when … Continue Reading

FCC unveils broadband privacy rules for Internet service providers

We have been waiting for—and the Federal Communications Commission (FCC) delivered—its long anticipated broadband data privacy and security rules on March 10, 2015. Through the proposed rules, the FCC has declared its enforcement authority over the data privacy and security practices of Internet service providers (ISPs), much to the chagrin of the industry, which argues … Continue Reading

Lesson in the history of the Gramm-Leach Bliley privacy protections: Victoria’s Secret started it all

Did you know that a Victoria’s Secret catalog is one of the top reasons that Congress included privacy protections in the Gramm-Leach Bliley Act (GLB Act)? The GLB Act protects consumers’ financial information and requires financial institutions to explain their information-sharing practices to consumers. These privacy protections were introduced by Representative Ed Markey of Massachusetts … Continue Reading

FAST Act loosens financial institutions’ privacy policy notice requirements

In addition to providing long-term funding for highway infrastructure improvements and other transportation projects, the newly enacted Fixing America’s Surface Transportation Act (FAST Act) seeks to reduce consumer confusion by eliminating annual privacy notice requirements for financial institutions in some circumstances. The Gramm-Leach-Bliley Act (GLBA) requires financial institutions to provide consumers with notice of the … Continue Reading

Privacy Tip #11

Whenever you open a new bank account, credit card or debit card account or other account such as a health savings account, the bank or credit card company is required to send you a notice of your privacy practices under the Gramm-Leach-Bliley Act. The notice is usually a separate page in a package that is … Continue Reading
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