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In Brief: The Financial Privacy Requirements of the Gramm-Leach-Bliley Act

Protecting the privacy of consumer information held by “financial institutions” is at the heart of the financial privacy provisions of the Gramm-Leach-Bliley Financial Modernization Act of 1999. The GLB Act requires companies to give consumers privacy notices that explain the institutions’ information-sharing practices. In turn, consumers have the right to limit some – but not all – sharing of their information.

Here’s a brief look at the basic financial privacy requirements of the law.

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