Gramm-Leach-Bliley Act

On November 12, 1999, the Gramm-Leach-Bliley Act (GLBA) was passed by Congress with an effective date of November 13, 2000, and compliance date of July 1, 2001. The Act requires any financial institution or business that engages in financial activities to provide a privacy notice to their customers by July 1, 2001, and when a relationship is established. GLBA applies to many types of business, including: Lending and extending credit; Providing financial or investment services; Insuring, guaranteeing, or indemnifying against loss; Underwriting or dealing with securities; Banking or closely-related banking services; Engaging in an activity that a bank holding company may engage in outside of the U.S.; Auto dealers that lease or finance; Appraising real estate or other personal property; Leasing real or personal property; and Mortgage lenders or brokers. Learn more about the Gramm-Leach-Bliley Act by visiting the sites below.