Privacy Requirements for Financial Institutions

The privacy landscape is changing for financial institutions as more states pass laws to protect consumer personal information and data. State privacy laws seek to mandate how financial institutions obtain and share consumer data. Explore this personal data state law survey for state restrictions on dissemination of nonpublic personally identifying information relating to social security numbers, victims, and minors, as well as specific exemptions to those rules.

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Related Content                                                 

• Gramm-Leach-Bliley Act (GLBA) Privacy Requirements
  Explore the GLBA privacy requirements in place to address the risks associated with financial institutions having direct control over the personal and financial information of customers, and safeguarding the privacy of customers.

• Third-Party Disclosure of Personal Data Key Federal Laws
  Access this practice note for an overview of federal laws that regulate third-party disclosure of personal information.

• Explore the Financial Privacy Regulation Compliance Checklist, Data Breach Avoidance and Response Plan Checklist, and Responding to a Data Breach Checklist (Financial Institutions) to understand and ensure compliance with applicable federal privacy laws and regulations.

Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.              

• Trends & Insights provides the latest in news articles and insights documents on trending areas for financial service organizations.
• Financial Services Regulations Fundamentals Resource Kit provides links to practice notes, checklists, articles and guidance on key issues, laws, and regulations applicable to in-house lawyers and counsel.
• State Law Comparison Tool—Topic: Financial Institution Regulation allows the practitioner to compare key state laws and regulations. The tool covers licensing and capital requirements, conditions to doing business in the state, AML/CFT guidelines, recordkeeping, supervision, and enforcement authority, for banking and non-banking institutions. To compare state laws on the topic of Third-Party Disclosure of PersonalData, see the Data Security & Privacy State Law Comparison Tool.
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• Explore the Practical Guidance Journal Spring 2024 Edition, featuring guidance on protecting attorney-client privilege and work product in a generative AI world, using AI to manage the attorney client relationship, an overview of privacy regulations in the United States, and a primer on the new Corporate Transparency Act requirements.
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