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Gramm-Bliley Act (GLBA): A Case Study

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The Gramm-Leach-Bliley Act requires financial institutions – companies that offer consumers financial products or services like loans, financial or investment advice, or insurance – to explain their information-sharing practices to their customers and to safeguard sensitive data ("Gramm-Leach Bliley Act (GLBA)"). It is a United States federal law that requires financial institutions to explain how they share and protect their customers’ private information. To be GLBA compliant, financial institutions must communicate to their customers how they share the customers’ sensitive data, inform customers of their right to opt-out if they prefer that their personal data not be shared with third parties, and apply specific protections to customers’ …show more content…

The necessities are intended to be adaptable. Organizations should actualize shields fitting to their own conditions. For instance, a few organizations may put their shields program in a solitary archive, while others may put their plans in a few distinct reports — say, one to cover a data innovation division and another to depict the preparation program for workers. Essentially, an organization may choose to assign a solitary worker to facilitate shields or may allocate this duty to a few representatives who will cooperate. What's more, organizations must consider and address any interesting dangers raised by their business operations —, for example, the dangers raised when representatives get to client information from their homes or other off-site areas, or when client information is transmitted

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