The Gramm-Leach-Bliley Act (GLBA) Made Simple

As an employee of a financial institution, you are likely already aware that financial institutions have more legal obligations, and are under stricter scrutiny, than most other businesses. The Gramm-Leach-Bliley Act of 1999, or the GLBA, establishes some of these heighted obligations, specifically those regarding the protection of customers’ non-public personal information. It is critical you understand your obligations; if you do not, you could easily expose your company to legal liability.

This course starts by defining and explaining some specific terminology in the GLBA. For example, a “financial institution” is a company that is “significantly engaged in financial activities“ with consumers on an ongoing or regular basis, which may include interactions such as opening home mortgages, credit cards, or automobile leases, to name a few examples. Protectable “non-public personal information” is any personally identifiable financial information collected while providing a financial product or service. There are three main sources of non-public personal information explained in this course. Of course, your obligations as a financial institution depend on whether the information collected is from a consumer or a customer, which in turn depends on how often the financial institution does business with an individual. This course explores these topics, as well as matters concerning oversight, security breaches, and legal consequences.

As an employee of a financial institution, you have an ethical and legal responsibility to protect the privacy and security of your customers’ non-public personal information. The GLBA simply codifies some of those responsibilities, and this on-demand training course explains them simply. Utilize the materials provided here and understand your requirements under the GLBA.

   This course is in the Video On Demand format, to read about Video On Demand features click here.

All those who work in the financial industry

• Introduction
• What Is A Financial Institution?
• What Is Non-Public Information?
• Consumer vs. Customer
• The Financial Privacy Rule
• The Safeguard Rule
• Safeguarding Non-public Personal Information
• Oversight
• The Pre-Texting Provisions
• Solutions
• Security Breaches
• Consequences
• Conclusion

• The General Data Protection Regulation (GDPR) Part 4: Responsibilities Of Controllers Or Processors
• The General Data Protection Regulation (GDPR) Part 3: Foundations Of Data Processing
• The General Data Protection Regulation (GDPR) Part 2: Five Basic Principles