The Gramm-Leach-Bliley Act
According to the Verizon 2020 Data Breach Investigations Report, during 2019, more than 3,905 known data breaches occurred. Leading the pack of breaches in identified industries at 11 percent of all breaches in the 2020 report were financial organizations.
Consumer financial information is PII that a person provides to a vendor to get a good or service, including services from banks or other financial institutions. These institutions collect and use this data to provide home or car loans, approve credit cards, or open checking accounts, and consumers demand that it be protected.
The Gramm-Leach-Bliley Act (GLBA) addresses the privacy and security of consumer financial information. GLBA, also known as the Financial ...
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