Gramm-Leach-Bliley Act of 1999 GLB

{
  "id": "MLC-T-INS-001655",
  "term": "Gramm-Leach-Bliley Act of 1999 GLB",
  "field": "Insurance and risk management",
  "definition": "A United States federal law that repealed parts of the Glass-Steagall Act of 1933, allowing commercial banks, investment banks, securities firms, and insurance companies to consolidate. The Act also includes provisions to protect the privacy of consumers' personal financial information, requiring financial institutions to explain their information-sharing practices to customers. It mandates safeguards to protect sensitive data from unauthorized access.",
  "url": "https://mlchart.com/terminology/insurance/gramm-leach-bliley-act-of-1999-glb/"
}