Gramm-Leach Bliley Act (GLBA)

Gramm-Leach Bliley Act (GLBA)

The Gramm–Leach–Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999 is a consumer protection law that governs the collection, disclosure, and protection of consumers personal information and personally identifiable information by financial institutions.  It requires financial institutions – companies that offer consumers financial products or services like loans, financial or investment advice, or insurance – to explain their information-sharing practices to their customers and to safeguard sensitive data.

Institutions of higher education (IHEs) are covered by the law's definition of "financial institutions" as they participate in financial activities, such as offering Federal Perkins Loans.  The law requires that institutions of Higher Education have a written information security program to ensure the security and confidentiality of customer information, protect against any anticipated threats or hazards to the security or integrity of such information, and protect against unauthorized access to or use of such information that could result in substantial harm or inconvenience to any customer.


Laws and Regulations

Law

15 U.S.C. §§ 6801-6809

Related SUNY Policies and Procedures

SUNY Procedure, Information Security Guidelines, Part 1: Campus Programs & Preserving Confidentiality, Document No. 6608.
The GLBA is one of the legal authorities listed in the Information Security Guidelines, Part 1: Campus Programs & Preserving Confidentiality, Document No. 6608.

References to Best Practices and Other Supplemental Material

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