The Graham Leach Bliley Act (GLBA) requires financial institutions to protect private consumer data and safeguard personal information, preventing the misuse of consumer-provided information in credit reports and identity theft cases.
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Deep Dive
clip from the live goes deeper into the G L B A also known as the Graham Leach Bliley ActAdded:
Now this law requires financial institutions to protect private consumer data, safeguard personal information. So this is another law that we use in the letters.
And this is basically a law that just make sure that the information is protected and it's safeguarded, so it's not just blasted out to all the different data collection agencies and then that same information is used against you in your own identity theft report or your own credit um credit report. So sometimes what they'll do is they'll use your same information that you're telling them is incorrect and they'll use it against you to tell you that your information is correct and we verified it via the information that we collected basically unlawfully because the GLBA says that the requires financial institutions to protect consumer data.
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