Oversight Hearing On Financial Privacy and the Gramm-Leach-Bliley Financial Services Modernization Act

ongress knew that the 1999 Gramm-Leach Bliley Financial Services Modernization Act (GLBA) - a law long-sought by the financial industry to encourage the creation of integrated financial services firms -- would exacerbate already-identified financial privacy threats. So  Congress incorporated Title V to protect financial privacy, which included the following five key provisions. The most important and most successful is the last: the fail-safe states' rights provision allowing states to enact stronger financial privacy laws.

Opt Out Sample of Sharing Financial Information Letter


[Your address]

[Name of company]

[Company's address as shown in the privacy notice]

RE: Opt-Out Instructions for Account #______________

Dear [name if given in the privacy notice]:

Following are my instructions with regard to your information sharing and sales policies:

1. You do not have my permission to share my personally identifiable information with
nonaffiliated third party companies or individuals. I am asserting my rights under the

Protecting Financial Privacy: The Burden Is on You

Fact Sheet 24Protecting Financial Privacy:
The Burden Is on You

Financial Privacy: How to Read Your "Opt-Out" Notices

Fact Sheet 24aFinancial Privacy:
How to Read Your "Opt-Out" Notices

Sample Opt-Out Letters

Fact Sheet 24a AddendumSample Opt-Out Letters

Short Form Opt Out Letter

Fact Sheet 24a AddendumShort Form Opt Out Letter

Answers to Cloze Test #1

Fact Sheet 24b AddendumAnswers to Cloze Test #1

Financial Privacy FAQ

Fact Sheet 24dFinancial Privacy FAQ

Is Your Financial Information Safe?

Fact Sheet 24eIs Your Financial Information Safe?

Check 21: Paperless Banking

Fact Sheet 30Check 21:
Paperless Banking
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