Financial Privacy
/ˈfaɪnænʃəl ˈpraɪvəsi/
Definitions
- (n.) The right or expectation of individuals or entities to control the disclosure and use of their financial information.
Financial privacy laws restrict how companies collect and share consumers' banking data.
- (n.) Legal protections designed to prevent unauthorized access or disclosure of personal and corporate financial information by third parties.
The legislation enhances financial privacy by imposing strict data security requirements on financial institutions.
Forms
- financial privacy
Related terms
See also
Commentary
Financial privacy is central to consumer protection and data security frameworks; clarity in defining scope—such as identifying covered data types and authorized users—is key in drafting.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.