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Privacy Requirements for Fintech

October 31, 2023 (3 min read)

Federal and state regulatory agencies are focused on the actions of financial institutions and financial technology companies (fintech), with an emphasis on data privacy. Existing laws and regulations generally require institutions to have reasonably designed policies and procedures to protect client information and detect and prevent identity theft and mitigate the risk of information security breaches. Explore the Gramm-Leach-Bliley Act privacy requirements in place to address the risks associated with financial institutions and fintechs having direct control over the personal and financial information of customers, and safeguarding the privacy of customers.

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