During a penetration test of a U.S. commercial bank, you obtain files containing customers' social security numbers, account balances, and loan histories. The bank's legal counsel reminds you that a specific federal law mandates protection of this non-public personal information and requires the institution to issue privacy notices to customers. Which regulation are they referring to?
Children's Online Privacy Protection Act (COPPA)
Health Insurance Portability and Accountability Act (HIPAA)
Payment Card Industry Data Security Standard (PCI DSS)
The Gramm-Leach-Bliley Act (GLBA), formally the Financial Services Modernization Act of 1999, applies to U.S. financial institutions. It requires safeguarding of non-public personal information and obligates covered entities to provide annual privacy notices explaining their information-sharing practices. HIPAA governs health data, PCI DSS focuses on payment card information, and COPPA protects children's online data; none of these specifically impose privacy notice and safeguard rules on banks for customer financial records.
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What is the Gramm-Leach-Bliley Act (GLBA)?
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What is the Gramm-Leach-Bliley Act (GLBA)?
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