GLB
Gramm-Leach-Bliley (GLB) requires financial institutions and banks in the United States to describe how they will protect the privacy and confidentiality of consumer information.
GLB Violations:
If found noncompliant, your may be subject to severe fines and possible class-action lawsuits.
• Civil penalties up to $100,000 for each violation.
• The officers and directors of the financial institution may be subject to, and personally liable for a civil penalty up to $10,000.
• Possible imprisonment up to five years.
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