Public Law 106-102

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Public Law 106-102 is the formal designation of the Gramm-Leach-Bliley Act of 1999, a major U.S. financial services law that deregulated parts of the banking industry and established new consumer privacy protections.

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Label Occurrences
Public Law 106-102 canonical 1

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Statements (50)

Predicate Object
instanceOf United States federal statute ⓘ
financial services law ⓘ
administeredBy Federal Trade Commission ⓘ
Securities and Exchange Commission ⓘ
federal banking agencies ⓘ
state insurance regulators ⓘ
chamberOfOrigin United States Senate ⓘ
congressNumber 106th United States Congress ⓘ
containsProvision Pretexting provisions ⓘ
Privacy Rule ⓘ
linked to: HIPAA Privacy Rule

Safeguards Rule ⓘ
country United States ⓘ
dateSigned 1999-11-12 ⓘ
effect allowed banks to affiliate with securities and insurance firms ⓘ
created new privacy notice requirements for financial institutions ⓘ
created opt-out rights for consumers regarding sharing of certain personal financial information ⓘ
deregulated parts of the U.S. banking industry ⓘ
imposed safeguards obligations on financial institutions to protect customer information ⓘ
permitted creation of financial holding companies ⓘ
enables creation of financial holding companies under the Bank Holding Company Act ⓘ
hasAlternativeName Financial Services Modernization Act of 1999 ⓘ
hasLongTermImpact established baseline federal standards for financial privacy in the United States ⓘ
increased consolidation in the U.S. financial services industry ⓘ
hasOfficialName Gramm-Leach-Bliley Act ⓘ
hasShortName GLBA ⓘ
jurisdiction United States federal government ⓘ
partyOfSigner Democratic Party (United States) ⓘ
linked to: Democratic Party
primarySponsors Jim Leach ⓘ
Phil Gramm ⓘ
Thomas J. Bliley Jr. ⓘ
publicLawNumber 106-102 ⓘ
purpose allow affiliations among banks, securities firms, and insurance companies ⓘ
establish standards for the protection of consumers’ nonpublic personal information ⓘ
modernize financial services regulation in the United States ⓘ
repeal key provisions of the Glass-Steagall Act ⓘ
regulates banks ⓘ
financial institutions ⓘ
insurance companies ⓘ
securities firms ⓘ
repealsPartOf Bank Holding Company Act of 1956 ⓘ
Glass-Steagall Act ⓘ
sector financial sector ⓘ
signedBy Bill Clinton ⓘ
subjectMatter banking regulation ⓘ
consumer financial privacy ⓘ
financial services ⓘ
insurance regulation ⓘ
securities regulation ⓘ
titleOfStatutesAtLarge 113 Stat. 1338 ⓘ
yearEnacted 1999 ⓘ

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