What is the Gramm-Leach-Bliley Act?
The Gramm-Leach-Bliley Act (GLBA) requires financial institutions to explain their information-sharing practices to their customers and to safeguard sensitive data by developing a written security plan under the Safeguards Rule. The Safeguards Rule requires that financial institutions have information security measures in place to protect the privacy of customers and consumers, and to prevent unauthorized use, distribution or illegal access to this nonpublic information. Financial institutions who must abide by the GLBA may engage in significant financial activities such as providing loans, performing debt collection, giving investment advice, offering real estate settlement services, or providing other monetary or securities related work.
How Does I.S. Partners, LLC help my organization with GLBA Compliance?
I.S. Partners, LLC, takes the anxiety out of the audit by evaluating current policies and procedures, and by performing a readiness assessment to see if your organization has met the standards of the GLBA. We identify internal controls and policies to see if they work effectively to keep nonpublic information safe and secure. In addition, we provide a gap analysis to identify issues, and provide guidance on how your organization can become GLBA compliant.
How will my organization benefit from a GLBA Audit?
With a comprehensive audit from I.S. Partners, LLC, you can implement the necessary changes to your information security programs and policies to keep customer and consumer information private. We can provide guidance and gap analysis so you can reach Gramm-Leach-Bliley Act compliance standards, and have a written information security plan in place that adequately protects customer and consumer records. By abiding by the Safeguards Rule, your organization can build trust and reliability with customers as they are assured that your organization will keep their information secure.
The I.S. Partners GLBA Seal of Excellence
The Gramm-Leach-Bliley Act requires financial institutions to explain their information-sharing practices and to safeguard their customers’ sensitive data. Recipients of the seal have demonstrated their ability to secure customer records and information, and to explain the customers their right to “opt out” if they do not want information shared with certain third parties.