The Gramm-Leach-Bliley Act contains a rule that ensures security and confidentiality of customer information, protects against a
nticipated threats or hazards to security or integrity of information, and protects against unauthorized access to or use of the customer information. What is this rule called
According to a different source, these are the options that come with this question:
a. The Information Assurance Rule
b. The Safeguards Rule
c. The Safety Rule
d. The Guardian Rule
This rule is called the <em>Safeguards Rule</em>, and it comes from the Gramm–Leach–Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999. This is an act of Congress signed by President Bill Clinton that removed barriers among banking companies, securities companies and insurance companies. This meant that organizations such as commercial banks, investment banks, securities firms, and insurance companies were able to consolidate.
The Safeguards Rule requires financial institutions under FTC (financial trade commission) jurisdiction to have measures in place to keep customer information secure. In addition to developing their own safeguards, companies covered by the rule are responsible for taking steps to ensure that their affiliates and service providers safeguard customer information in their care.
The rule requires financial institutions to develop, implement, and maintain a comprehensive information security program. The implementations made by financial institutions protect against threats and unauthorized access or use of customer informations.
Therefore, the rule in Gramm-Leach-Bliley Act that ensures security and confidentiality of customer information, protects against anticipated threats or hazards to security or integrity of information, and protects against unauthorized access to or use of the customer information is called THE SAFEGUARDS RULE.
