CCSP · Question #414
Which United States law is focused on PII as it relates to the financial industry?
The correct answer is D. GLBA. The Gramm-Leach-Bliley Act (GLBA), also known as the Financial Services Modernization Act, requires financial institutions to protect the privacy and security of customers' personally identifiable information (PII). It mandates disclosure of data-sharing practices and requires…
Question
Which United States law is focused on PII as it relates to the financial industry?
Options
- AHIPAA
- BSOX
- CSafe Harbor
- DGLBA
How the community answered
(38 responses)- A3% (1)
- B3% (1)
- C5% (2)
- D89% (34)
Explanation
The Gramm-Leach-Bliley Act (GLBA), also known as the Financial Services Modernization Act, requires financial institutions to protect the privacy and security of customers' personally identifiable information (PII). It mandates disclosure of data-sharing practices and requires safeguards for personal financial data. HIPAA protects health information in the healthcare sector, SOX (Sarbanes-Oxley) addresses corporate financial reporting and fraud, and Safe Harbor was a data transfer framework between the EU and US - none specifically target financial industry PII the way GLBA does.
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