ALERT

[LAST CHANCE] Data Layer: Modern Business, Defined

Gramm-Leach-Bliley Act (GLB Act or GLBA)

Definition - What does Gramm-Leach-Bliley Act (GLB Act or GLBA) mean?

The Gramm-Leach-Bliley Act (GLB Act or GLBA) is U.S. legislation that was signed into law on November 12, 1999 by former President Bill Clinton. The GLB Act requires the full disclosure of consumer data sharing practices and ensured consumer data privacy by financial institutions.

The GLB Act is formally known as the Financial Modernization Act of 1999.

Techopedia explains Gramm-Leach-Bliley Act (GLB Act or GLBA)

The GLB Act repealed provisions of the Banking Act of 1933 (Glass-Steagall Act) that restricted alliances within the banking and securities industries. By broadening financial services and facilitating market affiliations, the GLB Act introduced innovation. Electronic transactions soon became the norm and evolved in step with the rapid development of e-commerce.

The GLB Act primarily focused on tightening and expanding consumer data privacy safeguards and restrictions. For IT professionals, this means ensuring and securing confidential financial information from unauthorized access.

Techopedia Deals

Connect with us

Techopedia on Linkedin
Techopedia on Linkedin
Tweat cdn.techopedia.com
"Techopedia" on Twitter


'@Techopedia'
Sign up for Techopedia's Free Newsletter!

Email Newsletter

Join thousands of others with our weekly newsletter

Resources
The 4th Era of IT Infrastructure: Superconverged Systems
The 4th Era of IT Infrastructure: Superconverged Systems:
Learn the benefits and limitations of the 3 generations of IT infrastructure – siloed, converged and hyperconverged – and discover how the 4th...
Approaches and Benefits of Network Virtualization
Approaches and Benefits of Network Virtualization:
Businesses today aspire to achieve a software-defined datacenter (SDDC) to enhance business agility and reduce operational complexity. However, the...
Free E-Book: Public Cloud Guide
Free E-Book: Public Cloud Guide:
This white paper is for leaders of Operations, Engineering, or Infrastructure teams who are creating or executing an IT roadmap.
Free Tool: Virtual Health Monitor
Free Tool: Virtual Health Monitor:
Virtual Health Monitor is a free virtualization monitoring and reporting tool for VMware, Hyper-V, RHEV, and XenServer environments.
Free 30 Day Trial – Turbonomic
Free 30 Day Trial – Turbonomic:
Turbonomic delivers an autonomic platform where virtual and cloud environments self-manage in real-time to assure application performance.