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What is GLBA
The Gramm-Leach-Bliley Act (GLBA) of 1999 requires banking and financial institutions across the United States to describe how they will protect the confidentiality and security of consumer information.
Violations of GLBA
If you are found non-compliant, you could be vulnerable to severe fines and even subject to class-action lawsuits.
Take the following penalties into consideration:
- The officers and directors of the financial institution could be subject to, and personally liable for, a civil penalty of up to $10,000
- Possible imprisonment for up to five years
Frequently asked GLBA questions
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The Gramm-Leach-Bliley Act applies to:
- Banks
- Credit Unions
- Securities Brokers
- Real Estate Appraisers
- Insurance Companies
- Automobile Leasing Companies
- Companies that operate travel agencies in connection with financial services
- Retailers that issue their own credit cards directly to consumers
- Other entities involved in financial activities
Our inexpensive CD Shredder / Paper Shredder can help you comply with HIPAA,
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