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Financial Institutions and Customer Information: Complying with the Safeguards Rule

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Citation Edit

Federal Trade Commission, Bureau of Consumer Protection, Financial Institutions and Customer Information: Complying with the Safeguards Rule (Apr. 2006) (full-text).

Overview Edit

Under the Gramm-Leach Bliley Standards for Safeguarding Customer Information; Final Rule , financial institutions must protect the consumer information they collect. As part of its implementation of the GLB Act, the Federal Trade Commission (FTC) issued the Safeguards Rule, which requires financial institution under FTC jurisdiction to have measures in place to keep customer information secure.

This publication explains who qualifies as a "financial institution" and if so, what are the necessary steps that must be taken to comply with the Safeguards Rule?

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