However, a few very large institutions used GLBA
to develop holding companies, most notably Citigroup and Travelers, and JP Morgan and Chase.
Those activities were already permissible prior to GLBA
The intent of the GLBA
is to protect the customers of financial institutions from invasions of their privacy.
Gregory, who wrote the opinion in which Luttig concurred, said Cline and the insurers "are correct in their assertion that the GLBA
does not give the OCC express power of interpretation.
aims to: 1) provide financial services companies with a more level playing field, 2) allow U.
Our customers look to us for guidance on how to ease the burden of this process, now with our Information Security Review and the GLBA
MAP together, we can exceed audit and examiner expectations.
For a bank holding company to become a financial holding company and take advantage of the new powers granted by GLBA
, all of its depository institution subsidiaries must be well capitalized and well managed and have at least a "satisfactory" rating under the Community Reinvestment Act.
It is not all that clear" who falls under GLBA
, cautions Patricia Faley, vice president, ethics and consumer affairs, at the Washington, D.
To support the growing need for compliance and outbound message processing, the new releases provide built-in clientless encryption and policies for HIPAA and GLBA
to prevent confidential information leakage from within.
The new GLBA
software program will provide Diebold customers with a comprehensive security risk analysis and management tool that identifies and analyzes the assets, threats, vulnerabilities, losses and safeguards of information and physical resources.
, Congress included protections that allowed consumers to determine when personal financial information could be shared among financial service institutions.
In addition, the GLBA
authorized the agencies to issue joint rules implementing the FCRA.
In addition to internal policy objectives, IT organizations are subject to an ever increasing number of government regulations such as Sarbanes-Oxley (SOX) 404, GLBA
and HIPAA, and to various industry mandates such as FFIEC, PCI or ITIL and more.
With the abundance of GLBA
related requirements currently facing community banks, IBB recognized a need for clear understanding and thorough guidance in performing assessments and building policies to meet GLBA
amends the Electronic Fund Transfer Act by requiring ATM operators that impose fees on consumers who hold accounts at other institutions to post a prominent and conspicuous notice of that fact on or near the ATM.