| Feds Buckle Down on Customer Information Security
L. Taylor - February 9, 2002 Event Summary In an effort to improve the state of consumer privacy,<br>
<br>
the <b>Federal Reserve Board</b>,<br>
the <b>Federal Deposit Insurance Corporation (FDIC)</b>,<br>
the <b>Office of the Comptroller of the Currency (OCC)</b>,<br>
and the <b>Office of Thrift Supervision</b>,<br>
<br>
on January last year announced that they have put together joint guidelines to safeguard confidential customer information. The guidelines, that took effect last July, implement section 501(b) of the <b>Gramm-Leach-Bliley Act (GLBA)</b> initiated by the Senate Banking Committee, and passed into law on November 4, 1999. This announcement had significant implications for online banking institutions... |
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