Information Sharing By Financial Services ProviderThe Electronic Privacy Information Center (EPIC) has expressed concern about information sharing that occurs among financial services institutions. EPIC says that the Gramm-Leach-Bliley Act (GLBA) has failed to adequately protect consumer privacy in the financial services industry.
The following questions have been addressed in this article:What was Congress’ purpose in enacting the GLBA?
Why did these groups submit comments to the U.S. Department of the Treasury?
How does EPIC believe that the GLBA has proved to be inadequate?
Does EPIC provide a solution for the deficiencies of the GLBA?
Did other entities also provide comments about the GLBA?