The Gramm Leach Bliley Act, also known as the Financial Modernization Act of 1999, is a federal law that compels a financial institution to “respect the privacy of its customers and to protect the security and confidentiality of those customers’ non-public personal information.” The law provides for stiff penalties for companies found to be in violation of its regulations.
To learn more about the Gramm Leach Bliley Act (GLB) from the Federal Trade Commission, click here.