we have a manager here whose purpose in life is to break balls about privacy issues. every scrap of info that is not retained in files for 7 years goes into big blue locked trash bins. a bonded company comes around once a week and takes them off to be destroyed.
in 99 the senate passed the
Gramm Leach Bliley act
title V deals with privacy of information
Quote:
1 TITLE V—PRIVACY
2 Subtitle A—Disclosure of
3 Nonpublic Personal Information
4 SEC. 501. PROTECTION OF NONPUBLIC PERSONAL INFOR5
MATION.
6 (a) PRIVACY OBLIGATION POLICY.—It is the policy
7 of the Congress that each financial institution has an af8
firmative and continuing obligation to respect the privacy
9 of its customers and to protect the security and confiden10
tiality of those customers’ nonpublic personal information.
11 (b) FINANCIAL INSTITUTIONS SAFEGUARDS.—In fur12
therance of the policy in subsection (a), each agency or
13 authority described in section 505(a) shall establish appro14
priate standards for the financial institutions subject to
15 their jurisdiction relating to administrative, technical, and
16 physical safeguards—
17 (1) to insure the security and confidentiality of
18 customer records and information;
19 (2) to protect against any anticipated threats or
20 hazards to the security or integrity of such records;
21 and
22 (3) to protect against unauthorized access to or
23 use of such records or information which could re-
F:\FSA99\REPORT\S900CRPT.005
F:\V6\102899\102899.0H6
October 28, 1999
2
H.L.C.
1 sult in substantial harm or inconvenience to any cus2
tomer.
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