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What is the Gramm-Leach-Bliley (GLB) Act ?

April 26, 2017ACT GLB Gramm-Leach-Bliley

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What is the Gramm-Leach-Bliley (GLB) Act ?

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A. The GLB Act, also known as the Financial Services Modernization Act was passed in 1999 and featured a sweeping overhaul of the financial services landscape with an emphasis on expanding the powers of bank holding companies by broadening the legal definition of “financial institution” to include activities not normally thought of as those of a financial institution.