GLBA Privacy Rule Regulation P

The Gramm-Leach-Bliley Act (GLBA) Privacy Rule, implemented as Regulation P in 2000, requires financial institutions to protect consumer financial information and provide privacy notices about data practices. The rule ensures consumers understand how their personal financial data is collected, used, and shared, granting opt-out rights for certain information sharing with non-affiliated third parties.The regulation applies to banks, credit unions, securities firms, insurance companies, mortgage lenders, payday lenders, auto finance companies, and fintech firms handling consumer financial information. Modern financial institutions increasingly rely on digital identity verification solutions to ensure GLBA compliance while streamlining customer onboarding processes. It serves as a cornerstone of U.S. data privacy compliance, working alongside the Fair Credit Reporting Act (FCRA) and supporting broader consumer protection frameworks.