Agencies Adopt Guidelines for Customer Information Security

Gramm-Leach-Bliley Act (GLBA)Federal Deposit Insurance Corporation (FDIC)
Office of the Comptroller of the Currency (OCC)
Office of Thrift Supervision (OTS)Identity Theft
Risk Management

The federal bank and thrift regulatory agencies have sent to the Federal Register joint guidelines for safeguarding confidential customer information. The guidelines implement section 501(b) of the Gramm-Leach-Bliley Act (GLBA), and will be effective on July 1, 2001.

The GLBA requires the agencies to establish standards for financial institutions relating to administrative, technical and physical safeguards for customer records and information. These safeguards are to ensure the security and confidentiality of customer records and information, protect against any anticipated threats or hazards to the security or integrity of these records, and protect against unauthorized access to or use of these records or information that would result in substantial harm or inconvenience to a customer.

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