In Brief: The Financial Privacy Requirements of the Gramm-Leach-Bliley Act

For more information about the Financial Privacy Rule
requirements, please see the FTC's Small Business Guide

Protecting the privacy of consumer information held by "financial institutions" is at the heart of the financial privacy provisions of the Gramm-Leach-Bliley Financial Modernization Act of 1999. The GLB Act requires companies to give consumers privacy notices that explain the institutions' information-sharing practices. In turn, consumers have the right to limit some - but not all - sharing of their information.

Here's a brief look at the basic financial privacy requirements of the law.

Financial Institutions