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The Federal Trade Commission has provided the following resources for our members to comply with the Graham-Leach-Bliley Act. The FTC has authority to enforce the GLB Act with respect to financial institutions that are not covered by the federal banking agencies, the Securities and Exchange Commission, the Commodity Futures Trading Commission, and state insurance authorities. Mortgage brokers and non-bank mortgage lenders were obligated to come into compliance with the FTC's Privacy Rule by July 1, 2001.

As of May 23, 2003, mortgage brokers and non-bank mortgage lenders will also be obligated to comply with the FTC's Safeguards Rule, which was issued pursuant to the GLB Act and governs the protection of customer information by financial institutions. The Safeguards Rule and a business alert on safeguards are posted on the FTC's website at http://www.ftc.gov/privacy/glbact/index.html.
 

Quick Links:

How To Comply with the Privacy of Consumer Financial Information Rule of the Gramm-Leach-Bliley Act
http://www.ftc.gov/bcp/conline/pubs/buspubs/glblong.htm

In Brief: The Financial Privacy Requirements of the Gramm-Leach-Bliley Act
http://www.ftc.gov/bcp/conline/pubs/buspubs/glbshort.htm

Financial Institutions and Customer Data: Complying with the Safeguards Rule
http://www.ftc.gov/bcp/conline/pubs/buspubs/safeguards.htm

GETTING NOTICED: Writing Effective Financial Privacy Notices
http://www.ftc.gov/bcp/conline/pubs/buspubs/getnoticed.htm

 

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Last modified: April 01, 2003