GLBA GLBA-Sec6801-PolicyDuty-SafeguardingStandard: GLBA Section 6801 - Privacy Obligation Policy and Safeguarding Standard

GLBA Section 6801 - Protection of nonpublic personal information. SUBSECTION (a) PRIVACY OBLIGATION POLICY: it is the policy of Congress that each financial institution has an AFFIRMATIVE AND CONTINUING OBLIGATION to respect the privacy of its customers + to protect the security and confidentiality of those customers nonpublic personal information. SUBSECTION (b) FINANCIAL INSTITUTIONS SAFEGUARDS: each agency or authority described in section 6805(a) - OTHER THAN the Bureau of Consumer Financial Protection (CFPB) - shall establish APPROPRIATE STANDARDS for the financial institutions subject to their jurisdiction relating to ADMINISTRATIVE, TECHNICAL, AND PHYSICAL SAFEGUARDS - (1) to insure the security + confidentiality of customer records + information; (2) to protect against any anticipated threats or hazards to the security or integrity of such records; (3) to protect against unauthorized access to or use of such records or information which could result in substantial harm or inconvenience to any customer. This is the STATUTORY BASIS for the FTC Safeguards Rule (16 CFR Part 314, verified separately) + Interagency Guidelines Establishing Standards for Safeguarding Customer Information issued by the federal banking agencies + SEC Regulation S-P + NAIC Insurance Data Security Model Law.