Gramm-Leach-Bliley Act of 1999

E82916

The Gramm-Leach-Bliley Act of 1999 is a U.S. federal law that overhauled financial regulation by repealing key parts of Glass-Steagall, allowing the consolidation of commercial banking, investment banking, and insurance services while imposing new consumer privacy and data protection requirements.

All labels observed (6)

How this entity was disambiguated

Statements (49)

Predicate Object
instanceOf United States federal statute
financial regulatory law
administeredBy Federal Trade Commission
Securities and Exchange Commission
federal banking agencies
affects Bank Holding Company Act of 1956
allows creation of financial holding companies
alsoKnownAs Financial Services Modernization Act of 1999
appliesTo nonpublic personal information of consumers
containsTitle Pretexting provisions
Privacy of Consumer Financial Information
Safeguards Rule
country United States
dateSignedIntoLaw 1999-11-12
enables consolidation of commercial banking, investment banking, and insurance services
enactedBy 106th United States Congress
establishesConcept financial holding company
historicalContext marked the end of the separation between commercial and investment banking in the United States
imposesRequirement financial institutions must allow customers to opt out of certain information sharing with nonaffiliated third parties
financial institutions must explain information-sharing practices
financial institutions must implement administrative, technical, and physical safeguards for customer data
financial institutions must provide privacy notices to customers
legalCitation 15 U.S.C. §§ 6801–6809
mainPurpose establish consumer financial privacy protections
establish safeguards for customer financial information
modernize financial services regulation in the United States
permit affiliation of commercial banks, investment banks, and insurance companies
repeal key provisions of the Glass-Steagall Act
policyArea banking regulation
consumer privacy
data protection
insurance regulation
securities regulation
primarySponsors Jim Leach
Phil Gramm
Thomas J. Bliley Jr.
prohibits pretexting to obtain customer financial information
publicLawNumber Public Law 106-102
regulates banks
financial institutions
insurance companies
securities firms
repealsPartOf Glass-Steagall Act
sector financial services
shortName GLBA
Gramm-Leach-Bliley Act
signedBy Bill Clinton
statutesAtLargeCitation 113 Stat. 1338
yearEnacted 1999

How these facts were elicited

Referenced by (23)

Full triples — surface form annotated when it differs from this entity's canonical label.

Community Reinvestment Act amendedBy Gramm-Leach-Bliley Act of 1999
United States federal securities markets legalFramework Gramm–Leach–Bliley Act
linked to: Gramm-Leach-Bliley Act of 1999
Clinton administration signed Gramm–Leach–Bliley Act
linked to: Gramm-Leach-Bliley Act of 1999
Federal Trade Commission legalBasis Gramm–Leach–Bliley Act
linked to: Gramm-Leach-Bliley Act of 1999
Gramm-Leach-Bliley Act of 1999 shortName Gramm-Leach-Bliley Act
linked to: Gramm-Leach-Bliley Act of 1999
Gramm-Leach-Bliley Act of 1999 shortName GLBA
linked to: Gramm-Leach-Bliley Act of 1999
Gramm-Leach-Bliley Act of 1999 alsoKnownAs Financial Services Modernization Act of 1999
linked to: Gramm-Leach-Bliley Act of 1999
Gramm-Leach-Bliley Act of 1999 containsTitle Safeguards Rule
linked to: Gramm-Leach-Bliley Act of 1999
Bank Holding Company Act of 1956 amendedBy Gramm–Leach–Bliley Act
linked to: Gramm-Leach-Bliley Act of 1999
Bank Holding Company Act of 1956 relatedTo Gramm–Leach–Bliley Act
linked to: Gramm-Leach-Bliley Act of 1999
Federal Deposit Insurance Act amendedBy Gramm–Leach–Bliley Act
linked to: Gramm-Leach-Bliley Act of 1999
Fair Credit Reporting Act relatedTo Gramm–Leach–Bliley Act
linked to: Gramm-Leach-Bliley Act of 1999
Banking Code of the United States includes Gramm–Leach–Bliley Act
linked to: Gramm-Leach-Bliley Act of 1999
Phil Gramm notableWork Gramm–Leach–Bliley Act
linked to: Gramm-Leach-Bliley Act of 1999
Phil Gramm sponsored Gramm–Leach–Bliley Act
linked to: Gramm-Leach-Bliley Act of 1999
United States financial system subjectTo Gramm–Leach–Bliley Act
linked to: Gramm-Leach-Bliley Act of 1999
Public Law 106-102 hasOfficialName Gramm-Leach-Bliley Act
linked to: Gramm-Leach-Bliley Act of 1999
Public Law 106-102 hasShortName GLBA
linked to: Gramm-Leach-Bliley Act of 1999
Public Law 106-102 hasAlternativeName Financial Services Modernization Act of 1999
linked to: Gramm-Leach-Bliley Act of 1999
Public Law 106-102 containsProvision Safeguards Rule
linked to: Gramm-Leach-Bliley Act of 1999
Thomas J. Bliley Jr. notableWork Gramm–Leach–Bliley Act
linked to: Gramm-Leach-Bliley Act of 1999
Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 relatedTo Gramm-Leach-Bliley Act
subject linked to: Riegle-Neal Act
linked to: Gramm-Leach-Bliley Act of 1999