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The Gramm-Leach-Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999, is a U.S. federal law that controls how financial institutions deal with private information from individuals.
This act protects the personal financial information held by banks, mortgage companies, securities firms, and insurance companies.
To protect consumer privacy, the GLBA requires that financial institutions disclose their information-sharing practices and provide safeguards for sensitive data.
Many state privacy laws in the US offer exemptions to organizations and data types already governed by the GLBA.