Gramm-Leach-Bliley (GLB) Compliance Solutions
Erado's on-demand electronic message archive, supervisory, discovery, and
compliance services provides a full featured easy to use on-demand solution to ensure that
electronic records retention requirement for financial institutions that need to
comply with Gramm-Leach-Bliley Act (commonly called GLB, GLBA, or the the
Financial Modernization Act of 1999) are met.
Since personal financial information can and quite often is transmitted by, and
retained in electronic formats, it is important to ensure that the management of
such records complies with GLB.
The Gramm-Leach-Bliley Act applies to "financial institutions" which are
defined as businesses that offer financial products or services to individuals.
Financial institutions as defined by GLB include the following:
- Banks
- Securities firms
- Insurance companies
In addition to the "financial institutions" listed above the following
"businesses" that provide financial products and services to consumers also must
adhere to GLB. The enforcement of the GLB regulations fall under
jurisdiction of the FTC (Federal Trade Commission).
These institutions include, but are not limited to the following:
- state-registered investment advisors
- professional tax preparers
- auto dealers engaged in financing or leasing
- electronic funds transfer networks
- mortgage broker
- credit counselors
- real estate settlement companies
- retailers that issue credit cards to consumers
- consumer debt-collecting firms
- payday lenders and check-cashing businesses
Erado’s on-demand email archiving, supervisory, discovery and compliance
solution provides companies with an easy to use, cost effective solution to
ensure that electronic records meet Gramm-Leach-Bliley compliance requirements.
Click here to learn more about the Gramm-Leach-Bliley Act.