Financial Privacy - Online

The Gramm-Leach-Bliley Act requires financial institutions such as banks & savings associations, credit unions, mortgage & trust companies, insurance companies, collection agencies and others to disclose privacy policies, limit instances in which consumer information can be shared with non-affiliated third parties and provide consumers an opportunity to protect some of their personal financial information from being shared. The Federal Financial Institutions Examination Council (FFIEC) has introduced a privacy regulation implementing the Gramm-Leach-Bliley Act which imposes certain requirements on its member institutions. This product covers various technicalities of privacy regulation giving relevant and convincing examples.

This is an online self study course that can be globally accessed from any internet enabled computer.

Available TodayOnlineUSD$100
Instructional Method:
Self-Study
Level: Basic
CPE Credits: 12

Compliance staff, branch office managers, attorneys, auditors and exchange personnel will benefit from this program.
Students will be able to:
  • Understand Financial privacy regulation in the United States
  • Describe Persons/institutions required to comply, persons protected and the type of information protected under the regulation
  • Explain Restrictions on sharing of information
  • Understand Privacy notices
  • Understand Exceptions to the privacy notice requirements
  • Explain Privacy examination procedures
  • Understand Security guidelines
  • Describe Managerial responsibilities vis-à-vis requirements of privacy regulation
Financial Privacy Regulation
  • Persons/institutions that are required to comply with the regulation
  • Persons protected under the regulation
  • Protected category of information
  • Restrictions placed on information sharing

Privacy Notices and their Content

  • The three notices
  • Content of each notice
  • Modes of delivery of notices

Exceptions to the Rules and Reuse of Information

  • The circumstances under which privacy notice can be dispensed with such as joint agreements, processing and servicing, etc.
  • The situations under which financial institutions may reuse information

Exam Procedures

  • The six different modules provided in the exam procedures
  • The criteria to be adopted for selecting the relevant module by each institution

Security Guidelines

  • The applicability and objective of the security guidelines
  • Responsibilities of the board and management in this regard

Section 501-b of the GLB Act and the Management

  • Risk Control Practices
  • Training Programs
  • Monitoring Information Security
  • Reporting Requirements
  • Outsourcing

JOB AIDS

  • Privacy Acts Regulations Policies

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