Gramm Leach-Bailey Act (GLBA)

Effective May 23, 2003, colleges and universities must be in compliance with Federal Trade Commission (FTC) rules relating to safeguarding of customer financial information. The regulations stem from the requirement of the Gramm Leach-Bailey Act (GLBA) which requires institutions to take steps to ensure the security and confidentiality of non-public records, such as, bank and credit card account numbers, income and credit histories, and Social Security numbers. Higher education institutions are subject to the provisions related to the administrative, technical, and physical safeguarding of information in providing services such as student loans.

Read GLB Act Policy