What is the Gramm-Leach Bliley Act?

The Gramm-Leach-Bliley Act (GLBA) of 1999, is a US Federal Law that focuses on protecting consumers’ personal financial information held by financial institutions. It requires financial institutions to establish privacy practices and safeguards to protect sensitive customer data.

1. Privacy Rule: Requires financial institutions to disclose their privacy policies and practices to customers and give them the option to opt out of having their information shared with non-affiliated parties.
2. Safeguards Rule: Mandates that institutions implement measures to protect customer data from unauthorized access, destruction, or loss. This includes creating a security plan and ensuring proper data protection protocols.
3. Pretexting Rule: Makes it illegal for individuals to obtain consumer information through fraudulent means (like pretending to be the consumer to gain access to sensitive data).

Shredding and the GLBA:

1. Shredding is an important part of complying with the Safeguards Rule under the GLBA. Financial institutions are required to take appropriate measures to protect customers’ sensitive personal data. Shredding documents that contain personal information, such as account numbers or Social Security numbers, helps prevent data breaches and identity theft.

How can MicroShred help make you compliant?
MicroShred offers secure document shredding services that ensure compliance with Federal Law requirements. Using advanced cross-cut shredders, MicroShred guarantees the complete destruction of sensitive documents, making them unreadable and permanently destroyed. Every client receives a Certificate of Destruction as proof that all documents entrusted to MicroShred have been securely destroyed. Additionally, we prioritize sustainability by converting shredded paper into pulp for recycling. As an eco-friendly company, MicroShred promotes recycling, so by choosing our shredding services, you’re also contributing to a greener environment.