Financial Privacy Law

Financial Privacy Law encompasses regulations that protect individual financial information from unauthorized access and disclosure. These laws require financial institutions, such as banks and investment firms, to keep personal data confidential and safeguard it against breaches. They also give consumers rights over their information, including the ability to access, correct, or limit how their data is shared. Key regulations, like the Gramm-Leach-Bliley Act and the Fair Credit Reporting Act, aim to ensure that customers’ financial privacy is respected while allowing for necessary transactions and services within the financial sector.