What does GLBA stand for?

What does GLBA stand for?

• A. Gramm-Leach-Bliley Act
• B. General Lien and Bank Act
• C. Global Lending and Banking Act
• D. Grants and Licenses in Banking Act

Answer: (A)

GLBA stands for Gramm-Leach-Bliley Act. This U.S. law, enacted in 1999 and named after the lawmakers Gramm, Leach, and Bliley, is often called the Financial Services Modernization Act. It expanded what financial institutions can do across banking, securities, and insurance while embedding privacy protections for customers. The act introduces rules about how personal financial information is shared (privacy notices and opt-out rights) and requires safeguards to protect data (the Safeguards Rule). Among the options, this is the real acronym for the well-known financial privacy and security statute, whereas the others are not recognized acts. In practice, understanding GLBA helps when handling financial data in investigations, since it governs how such information may be collected, stored, and disclosed.

GLBA stands for Gramm-Leach-Bliley Act. This U.S. law, enacted in 1999 and named after the lawmakers Gramm, Leach, and Bliley, is often called the Financial Services Modernization Act. It expanded what financial institutions can do across banking, securities, and insurance while embedding privacy protections for customers. The act introduces rules about how personal financial information is shared (privacy notices and opt-out rights) and requires safeguards to protect data (the Safeguards Rule). Among the options, this is the real acronym for the well-known financial privacy and security statute, whereas the others are not recognized acts. In practice, understanding GLBA helps when handling financial data in investigations, since it governs how such information may be collected, stored, and disclosed.