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Tag Archives: Law

The Gramm-Leach-Bliley Act

The Gramm-Leach-Bliley Act

The Gram-Leach-Bliley Act, also known as the Financial Modernization Act of 1999, requires financial institutions to develop privacy notices and to notify customers that they are entitled to privacy. The act prohibits banks from releasing information to nonaffiliated third parties without permission. Many customers groups have criticized the implementation of …

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