What is the Gramm-Leach-Bliley Act (GLBA)?
The Gramm-Leach-Bliley Act (GLBA) requires financial institutions to ensure the confidentiality of consumer information including names, addresses, phone numbers, bank and credit card account numbers, income and credit histories and Social Security numbers. It also requires providing consumers with detailed privacy notices that explain their information-sharing practices and gives consumers the right to limit the information that is shared.
Penalties for non-compliance:
The financial institution is subject to a civil penalty of up to $100,000 for each violation, and the officers and directors of the financial institution are subject to, and are personally liable for, a civil penalty of not more than $10,000 for each violation.
How do I comply?
The GLBA Safeguard Rules requires companies to develop a written security plan that describes their information safeguarding practices. Among other things, the FTC recommends limiting employee access to customer information and shredding documents before they are discarded.
How can Ohio Mobile Shredding help?
OMS can help you implement a consistent, reliable, and cost-effective shredding program that will ensure your consumer information is safeguarded and destroyed in accordance with the GLBA.
- We provide, free of charge, the quantity, size, and type of locked document containers that will best suit your volume and needs.
- Your staff members deposit discarded consumer information, including staples, rubber bands and paper clips, into the containers whenever needed.
- On a schedule that you choose, our bonded and insured Service Representatives will shred the contents and issue you a Certificate of Destruction.
With Ohio Mobile Shredding, compliance with the GLBA could not be easier!