ExperienceConsumer Financial Data
AdvisorMail GLB provides financial institutions with an easy to use, fully secure solution to ensure that electronic records meet Gramm-Leach-Bliley compliance requirements.
The Gramm-Leach-Bliley Act (commonly called GLB or GLBA) is also known as the Financial Modernization Act of 1999. The GLB Act includes provisions to protect consumers' personal financial information held by "financial institutions."
Since personal financial information can be transmitted by and retained in electronic formats, it is critical to ensure that the management of such records complies with GLB.
The GLB Act applies to "financial institutions" - businesses that offer financial products or services to individuals to be used primarily for their personal, family, or household purposes. Financial institutions include, for example, banks, securities firms and insurance companies; such entities are covered by the SEC (Securities and Exchange Commission).
Businesses that provide many other types of financial products and services to consumers fall under jurisdiction of the FTC (Federal Trade Commission) for the purposes of enforcing GLB. These non-traditional "financial institutions" include, but are not limited to, state-registered investment advisors, professional tax preparers, auto dealers engaged in financing or leasing, electronic funds transfer networks, mortgage brokers, credit counselors, real estate settlement companies, retailers that issue credit cards to consumers, consumer debt-collecting firms, payday lenders and check-cashing businesses.
AdvisorMail GLB satisfies Gramm-Leach-Bliley Act requirements and helps your firm comply with these private, consumer information-sharing regulations.
Learn more about the Gramm-Leach-Bliley Act.