Gramm-Leach-Bliley Act (GLBA)

Gramm-Leach-Bliley Act (GLBA) - The Gramm-Leach-Bliley Financial Services Modernization Act of 1999 applies to all financial institutions in the U.S. regulated by the Office of the Comptroller of the Currency (OCC). GLBA requires that financial institutions ensure the security and confidentiality of customer personal information against "reasonably foreseeable" internal or external threats.

From an information security perspective, organizations must implement a process that assesses and monitors the threat environment, as well as the tools and policies to counter threats, including access controls, authentication, encryption, data integrity controls and audit controls.

[Category=Geospatial ]

Source: RSA, 16 August 2011 08:31:40, http://www.rsa.com/glossary/  

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Gramm-Leach-Bliley Act (GLBA) - The Gramm-Leach-Bliley Act (GLB Act or GLBA), also known as the Financial Modernization Act of 1999, is a federal law enacted in the United States to control the ways that financial institutions deal with the private information of individuals. The Act consists of three sections: The Financial Privacy Rule, which regulates the collection and disclosure of private financial information; the Safeguards Rule, which stipulates that financial institutions must implement security programs to protect such information; and the Pretexting provisions, which prohibit the practice of pretexting (accessing private information using false pretenses). The Act also requires financial institutions to give customers written privacy notices that explain their information-sharing practices.

Related glossary terms: EISA (Extended Industry Standard Architecture), metered services (pay-per-use), enterprise architecture (EA), Napster, entrepreneur, Six Sigma, e-services (electronic services), portal software, CCO (Corporate or Chief Compliance Officer), International Standard Book Number (ISBN)

[Category=Data Management ]

Source: WhatIs.com, 12 August 2013 08:06:36, http://whatis.techtarget.com/glossary/Data-and-Data-Management