Financial

Financial Information

The two primary types of financial privacy regulations are those enforced by the government and those prescribed by industry leaders. Examples which affect UF follow:

Federal Regulations

Gramm-Leach-Bliley Act (GLBA)

–also known as the Financial Modernization Act of 1999, mandates that financial institutions protect any consumer information they hold. In 2003, the Federal Trade Commission (FTC) confirmed that higher education institutions are considered financial institutions under this federal law. More...

Fair Credit Reporting Act (FCRA)

– enforced by the Federal Trade Commission, promotes accuracy in consumer reports and is meant to ensure the privacy of the information in them. Employers may use consumer reports when hiring new employees and when evaluating employees for promotion, reassignment, and retention. More...

Children’s Online Privacy Protection Act (COPPA)

- protects the privacy of children (under 13) as consumers, by giving parents control over what information is collected from their children online and how such information may be used. More…

Payment Card Industry Standards

Payment Card Industry Data Security Standard (PCI-DSS)

– created by the five major credit card companies to safeguard customer information, and mandates that merchants and service providers meet certain minimum standards of security when they store, process, and transmit cardholder data. More...