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GLB Act and Co-Mail
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Protection of non-public personal information
The GLB Act, Sec. 501.
(a) PRIVACY OBLIGATION POLICY.-It is the policy of the Congress that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customers' non-public personal information.
(b) FINANCIAL INSTITUTIONS SAFEGUARDS.-In furtherance of the policy in subsection (a), each agency or authority described S. 900-100 in section 505(a) shall establish appropriate standards for the financial institutions subject to their jurisdiction relating to administrative, technical, and physical safeguards -
- to insure the security and confidentiality of customer records and information;
- to protect against any anticipated threats or hazards to the security or integrity of such records; and
- to protect against unauthorized access to or use of such records or information which could result in substantial harm or inconvenience to any customer.
The GLB Act , Sec. 502. Obligations with respect to disclosures of personal information (extracts)
(a) NOTICE REQUIREMENTS.-Except as otherwise provided in this subtitle, a financial institution may not, directly or through any affiliate, disclose to a nonaffiliated third party any non-public personal information, unless such financial institution provides or has provided to the consumer a notice that complies with section 503.
(c) LIMITS ON REUSE OF INFORMATION.-Except as otherwise provided in this subtitle, a nonaffiliated third party that receives from a financial institution nonpublic personal information under this section shall not, directly or through an affiliate of such receiving third party, disclose such information to any other person that is a nonaffiliated third party of both the financial institution and such receiving third party, unless such disclosure would be lawful if made directly to such other person by the financial institution.
(d) LIMITATIONS ON THE SHARING OF ACCOUNT NUMBER INFORMATION FOR MARKETING PURPOSES.-A financial institution shall not disclose, other than to a consumer reporting agency, an account number or similar form of access number or access code for a credit card account, deposit account, or transaction account of a consumer to any nonaffiliated third party for use in telemarketing, direct mail marketing, or other marketing through electronic mail to the consumer.
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