In addition, Venmo allegedly misrepresented the extent to which consumers financial accounts were protected by bank grade security systems, and violated the Gramm-Leach-Bliley
Acts Safeguards and Privacy Rules, according to the complaint.
"NAFCU has long urged lawmakers to ease the yearly privacy notice disclosures for credit unions and other financial institutions under the Gramm-Leach-Bliley
Act," Chad Adams, NAFCU associate director of legislative affairs, said Wednesday.
Confidential medical information, for example, is governed by the Health Insurance Portability and Accountability Act, while the Gramm-Leach-Bliley
Act and the Fair Credit Reporting Act protect the use and dissemination of other nonpublic, personal information.
An important victory for CPAs and their clients was won last month when the Senate passed a bill containing the profession's Gramm-Leach-Bliley
Act privacy notice exemption regarding disclosure of personal financial information.
The filters conform to requirements of HIPAA and the Gramm-Leach-Bliley
Act for protecting personal medical and financial information.
Financial institutions subject to the Disposal Rule and the Gramm-Leach-Bliley
Safeguards Rule, which requires institutions to protect sensitive customer information, should add related practices to the information security program the Safeguards Rule requires them to establish (www.ftc.gov/privacy/privacy initiatives/safeguards.html).
404, and other new compliance laws, such as HIPAA and Gramm-Leach-Bliley
Eight federal regulators, on December 23, 2003, announced an advance notice of proposed rulemaking (ANPR) requesting public comment on ways to improve the privacy notices that financial institutions provide to consumers under the Gramm-Leach-Bliley
Act (GLB Act).
It also enables compliance with the Gramm-Leach-Bliley
requirements for confidentiality of financial information.
district court decision holding lawyers are not subject to the privacy provisions of the Gramm-Leach-Bliley
Act is reversed, it will take no action against lawyers who do not comply with the act.
A 2003 Network Computing poll found that 72% of readers polled said they were affected by HIPAA, Sarbanes-Oxley, the Gramm-Leach-Bliley
ACT (GLBA) or the Patriot Act.
Shred-it New York's 30 trucks a re in virtually every building in Manhattan shredding confidential documents for small and large businesses in compliance with the Gramm-Leach-Bliley