Money Isn't Everything
GLBA brought sweeping deregulation to banks, but introduced new security and privacy provisions designed to protect the "nonpublic" personal information of customers. With a broad portfolio of solutions, Trustwave can help you get up to speed on and respond to the requirements.
GLBA: Fast Facts and Consequences
- The notable elements of the law are the Safeguards Rule, Privacy Rule and Pretexting Protections.
- The Safeguards Rule seeks to ensure the security and confidentiality of customer records and information, while the Privacy Rule requires customers are provided with a notice of privacy policies and practices and the ability to opt out.
- The law also bars pretexting, which involves individuals lying to gain access to sensitive data.
- Several federal and state agencies are responsible for enforcement of GLBA, depending on whom the alleged violator is. Fines could reach $100,000 per violation.