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ABA: The American Bankers Association
Compliance News

FTC Proposes Amendments to Safeguards and Privacy Rules

The FTC released two proposals on March 5 to update their version of the GLBA privacy rule and their Safeguards Rule (requiring companies to have in place procedures to safeguard customer information).

The FTC released two proposals on March 5 to update their version of the GLBA privacy rule and their Safeguards Rule (requiring companies to have in place procedures to safeguard customer information). The proposed changes would bring the rules into line with changes implemented by Congress through the Dodd-Frank Act in 2010 and the FAST Act in 2015, which modified the annual privacy notice requirement under the Gramm-Leach Bliley Act. Comments are due 60 days after Federal Register publication.