GRAMM-LEACH-BLILEY ACT (GLBA)
Gramm-Leach-Bliley Act (GLBA), also known as the Financial Modernization Act of 1999, is a U.S. law that requires financial institutions to:
- Explain to their customers how they share and protect their sensitive information
- Inform customers of their right to opt-out of their personal data being shared with third parties
- Assure specific protections to customers’ private data in accordance with a written information security plan created by the institution.
In January 2022, the Federal Trade Commission amended the Privacy Rule (16 CFR Part 313) and the Safeguards Rule under the GLBA. Among the changes, the updated Safeguards Rule expands the definition of “financial institutions” to include non-banking companies such as mortgage lenders, fintech, and accountants, and motor vehicle dealers.
2B helps both financial institutions and non-bank companies meet their cybersecurity compliance obligations under GLBA to keep their customers’ information safe.
AS YOU STRIVE TO ACHIEVE, EXCEED AND MAINTAIN EVOLVING GLBA REGULATORY REQUIREMENTS, YOU’RE LIKELY CONSIDERING THE FOLLOWING SERVICES:
WHY IS 2B YOUR PARTNER FOR GLBA COMPLIANCE?
For two decades, we have served more than 1,500 small to mid-sized financial institutions and have been held to the same stringent compliance regulations as many of our clients.
We deliver technology that offers a holistic view of security across your company, not just a single technology area that point products provide.
We provide flexible and easy reporting across your entire security architecture making compliance reporting much easier.
We help streamline and centralize your monitoring and management. This means your IT teams are more efficient and free to perform functions that increase your overall security.
We lessen the strain of technical and human resource complexity so you can continue to grow and add new services while being safe in the knowledge your defenses are stronger than ever.