19 Sep 2023
Information Security Requirements for Financial Institutions
Federal and state regulatory agencies are focused on partnerships between financial institutions and financial technology (fintech) companies, with an emphasis on information security and data privacy. Existing laws require institutions to have reasonably designed policies and procedures to protect customer information, detect and prevent identity theft, and mitigate the risk of information security breaches. Explore our information security policy template which addresses information security requirements for financial institutions to protect against compromise or loss of customer information under the Gramm-Leach-Bliley Act of 1999 (GLBA).
Related Content
- Third-Party Disclosure of Personal Data Key Federal Laws
Access this practice note to gain an overview of federal laws that regulate third-party disclosure of personal information. Practitioners will be aided by these federal laws addressing the disclosure of personal information in the financial industries and the disclosure of personal information by state and federal agencies.
- Gramm-Leach-Bliley Act (GLBA) Privacy Requirements
This practice note provides a complete overview of GLBA privacy requirements, as well as the Federal Trade Commission's (FTC) Privacy Rule and Safeguards Rule.
- Data Breach Avoidance and Response Plan Checklist, Responding to a Data Breach Checklist (Financial Institutions), and Financial Privacy Regulation Compliance Checklist
Explore these key resources outlining actions and best practices for financial institutions who collect, share, or use customer nonpublic personal information.
- Cybersecurity Risks in Banking
Review the cybersecurity risks related to financial services transactions and gain insight into the regulatory expectations for management of cybersecurity risks.
Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.
- Trends & Insights provides the latest in news articles and insight documents on trending areas for financial service organizations.
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- Financial Institution Regulations State Law Comparison Tool
Access this tool for federal/state-specific guidance and the ability to compare state laws for banking and non-banking financial institutions in the areas of licensing, capital requirements, AML/CFT guidelines, recordkeeping, supervision, and enforcement authority. - For related Practical Guidance content on important recent trends, please review these easy-to-use Resource Kits on a variety of emerging topics:
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