Gramm-Leach-Bliley Act (GLBA)
aka The Financial Modernization Act of 1999
Gramm-Leach-Bliley Act (GLBA), also known as the Financial Modernization Act of 1999, is a U.S. law that requires financial institutions to explain how they share and protect their customers’ private information. To maintain GLBA compliance, financial institutions must tell their customers how they share the customers’ sensitive data. Financial institutions must also inform customers of their right to opt-out of their personal data being shared with third parties. Finally, firms must assure specific protections to customers’ private data in accordance with a written information security plan created by the institution.
While GLBA has been in place for more than two decades, changes are coming. The comment period for amending the Privacy Rule (16 CFR Part 313) and the Safeguards Rule portions of the GLBA concluded in the summer of 2019 and SilverSky is helping clients to prepare for new regulatory demands.
Why Is SilverSky Your Partner for GLBA Compliance?
- For two decades, we have served more than 1,500 small to mid-sized financial institutions and have been held to the same stringent compliance regulations as many of our clients
- We deliver technology that offers a holistic view of security across your company, not just a single technology area that point products provide
- We provide flexible and easy reporting across your entire security architecture making compliance reporting much easier
- We help streamline and centralize your monitoring and management. This means your IT teams are more efficient and free to perform functions that increase your overall security
- We lessen the strain of technical and human resource complexity so you can continue to grow and add new services while being safe in the knowledge your defenses are stronger than ever
“In the first week of implementing the solution, SilverSky’s solution made eight detections. That’s eight infected emails that would have reached our C-level users. It quickly became apparent throughout the organization why we had purchased the solution.”