Gramm-Leach-Bliley Act
October 26, 2005 | 1 Comment
The Gramm-Leach-Bliley Act is an Act targeted at financial institutions, which also applies to higher education institutions. In turn, they must be aware of and in compliance with the Act. Of specific concern is the Safeguards Rule [PDF].
In summary:
Under the Gramm-Leach-Bliley Act, the Safeguards Rule, enforced by the Federal Trade Commission, requires financial institutions to have a security plan to protect the confidentiality and integrity of personal consumer information.
Luckily the FTC has published: Financial Institutions and Customer Data: Complying with the Safeguards Rule, which as the name implies gives a nice summary of how to comply. Of particuar interest to me is the “Information Systems” section.
As a quick side-note about GLBA, it turns out that maybe the single key reason this Act received bypartisan support and in turn passed is because of Victoria’s Secret.
Tags: act, education, federal trade commission, financial institutions, ftc, glba, gramm-leach-bliley, gramm-leach-bliley act, higher education, privacy, victoria's secret