Financial Institution Compliance with GLBA Privacy Provisions?
Congress enacted several privacy provisions in the GLBA in response to concerns about the growing inability of consumers to control access to their personal financial information, namely GLBA, Title V Privacy, Subtitles A and B. These privacy provisions created new requirements for various federal and state regulatory agencies and financial institutions. Congress continues to emphasize the importance of consumer privacy as demonstrated by recent hearings covering the topics of identity theft and obligations regarding disclosures of personal information. (the U.S. Senate Committee on Banking, Housing, and Urban Affairs conducted hearings in June 2003: The Growing Problems of Identity Theft and Its Relationship to the Fair Credit Reporting Act (June 19, 2003); and Affiliate Sharing Practices and Their Relationship to the Fair Credit Reporting Act (June 26, 2003). We conducted an evaluation to determine whether the FDIC has made reasonable progress in implementing the GLBA Title V privacy
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- Financial Institution Compliance with GLBA Privacy Provisions?
