Gramm-Leach-Bliley Act
Posted: July 15 2019
The Gramm-Leach-Bliley Act (GLB)—also known as the Financial Services Modernization Act of 1999—repealed laws that prevented the merger of banks, brokerage companies and insurance companies. Increasing the risk that financial institutions would have access to more personal information, it also added privacy protections that required all financial institutions to provide privacy notices to their customers and put measures in place to safeguard customers’ personal information.