| Publisher | NeoForte | ||
|---|---|---|---|
| Format | 183.2KB PDF | Date added | 15 May 2003 |
| Topics | Online Banking, Gramm-Leach-Bliley Act | ||
| Downloads | 130 | ||
Federal legislators are aware of these limitations, and have passed new regulations ensuring the privacy of financial data. The Gramm-Leach-Bliley Act (GLB) mandates the privacy of consumer financial data. It is resulting in sweeping changes in banking transaction and administrative information systems. GLB is quite far reaching, since it defines "financial institution" to be any institution engaged in activities that have been determined to be financial in nature under the Bank Holding Company Act.
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