Gramm-Leach Bliley Act

Gramm-Leach Bliley Act, DPPA & FCRA

What You Should Know?

The Gramm-Leach Blilely Act (GLBA), Driver Privacy Protection Act (DPPA) and Fair Credit Reporting Act (FCRA), are federal laws whose regulations were created, in part, to protect the personal identifying information of all U.S. Citizens.

With personal information being so readily available on the internet, these federal laws assist in preventing U.S. citizens from being the victim of identity theft or other crimes related to the unauthorized release of personal information.

The GLBA, also known as the Financial Services Modernization Act of 1999, was enacted to allow commercial banks, investment banks, securities firms and insurance companies to consolidate. The law was passed to legalize these mergers on a permanent basis. As part of the GLBA, privacy and safeguard rules were included to protect consumers and prevent the unlawful sharing of personal information.

The DPPA is a United States federal statute enacted in 1994, governing the privacy and disclosure of personal information gathered by state Departments of Motor Vehicles. The law was enacted after the murder of actress Rebecca Schaeffer, whose murderer obtained her address through a private investigator.

The FCRA is a United States federal law that regulates the collection, dissemination, and use of consumer information, including consumer credit information. Along with the Fair Debt Collection Practices Act (FDCPA), it forms the base of consumer credit rights in the United States. It was originally passed in 1970, and is enforced by the US Federal Trade Commission.

The GLBA, DPPA and FCRA were enacted to ensure that only businesses or indviduals with “permissible uses” access and/or are the authorized recipient[s] of personal information, and these acts impose record-keeping requirements on the authorized recipients.

Most firms who are involved in legal proceedings and/or while conducting due dilligence in business related transactions are concerned with obatining as much information as possible which may assist them. Oftentimes, the firm seeking the information has minimal or no concern for being in compliance with the process by which the information was obtained or having the proper “permissible use” for obtaining this information.

Craven Allen Investigative Services will assist their clients in obtaining the information they need, while simulateneously upholding the highest of standards within the requirements of these federal acts to ensure compliance and avoidance of civil and/or criminal exposure for illegally obtaining protected information.