Gramm-Leach-Bliley Act
/ˈɡræm liːʧ ˈblaɪbli ˈækt/
Definitions
- (n.) A U.S. federal law enacted in 1999 that repealed parts of the Glass-Steagall Act, allowing the consolidation of commercial banks, investment banks, and insurance companies and setting privacy rules for financial institutions.
The Gramm-Leach-Bliley Act requires financial institutions to protect customer information and provide privacy notices.
Forms
- gramm-leach-bliley act
- gramm-leach-bliley acts
Related terms
See also
Commentary
The Act is often cited by its acronym GLBA and primarily governs financial institutions' privacy and data security obligations.
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.