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Privacy Act Issues Under GLBA

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Institutional GLBA Information Security Plan

Purpose

The Federal Trade Commission (FTC) requires financial institutions to establish policies and procedures for safeguarding customer financial information by complying with the Gramm-Leach-Bliley Act (GLBA). The GLBA also includes specific requirements regarding the privacy of customer financial information. The FTC has ruled that being in compliance with the Family Educational Rights and Privacy Act (FERPA) satisfies the privacy requirement of the GLBA, but does not satisfy the safeguarding provisions.


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