Gramm-Leach-Bliley Act of 1999

E82916
United States federal statute financial regulatory law

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.

Observed surface forms (5)

Surface form As subject As object
Gramm–Leach–Bliley Act 0 3
Financial Services Modernization Act of 1999 0 1
GLBA 0 1
Gramm-Leach-Bliley Act 0 1
Safeguards Rule 0 1

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 Gramm-Leach-Bliley Act of 1999 →
surface form: Financial Services Modernization Act of 1999
appliesTo nonpublic personal information of consumers →
containsTitle Pretexting provisions →
Privacy of Consumer Financial Information →
Gramm-Leach-Bliley Act of 1999 self-linksurface differs →
surface form: Safeguards Rule
country United States of America →
surface form: 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 →
surface form: Glass-Steagall Act
sector financial services →
shortName Gramm-Leach-Bliley Act of 1999 self-linksurface differs →
surface form: GLBA

Gramm-Leach-Bliley Act of 1999 self-linksurface differs →
surface form: Gramm-Leach-Bliley Act
signedBy Bill Clinton →
statutesAtLargeCitation 113 Stat. 1338 →
yearEnacted 1999 →

Referenced by (9)

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

Gramm-Leach-Bliley Act of 1999 → alsoKnownAs → Gramm-Leach-Bliley Act of 1999 →
this entity surface form: Financial Services Modernization Act of 1999
Community Reinvestment Act → amendedBy → Gramm-Leach-Bliley Act of 1999 →
Gramm-Leach-Bliley Act of 1999 → containsTitle → Gramm-Leach-Bliley Act of 1999 self-linksurface differs →
this entity surface form: Safeguards Rule
Federal Trade Commission → legalBasis → Gramm-Leach-Bliley Act of 1999 →
this entity surface form: Gramm–Leach–Bliley Act
United States federal securities markets → legalFramework → Gramm-Leach-Bliley Act of 1999 →
this entity surface form: Gramm–Leach–Bliley Act
Gramm-Leach-Bliley Act of 1999 → shortName → Gramm-Leach-Bliley Act of 1999 self-linksurface differs →
this entity surface form: Gramm-Leach-Bliley Act
Gramm-Leach-Bliley Act of 1999 → shortName → Gramm-Leach-Bliley Act of 1999 self-linksurface differs →
this entity surface form: GLBA
Clinton administration → signed → Gramm-Leach-Bliley Act of 1999 →
this entity surface form: Gramm–Leach–Bliley Act