Question: What Protected Financial Information?

What is considered personally identifiable financial information?

So, the rule definition of personally-identifiable financial information is any information that a financial institution obtains about a consumer— everything from the value of a consumer’s home obtained in the process of approving a loan, to the fact that an individual even has a loan with a particular institution..

What is NPI Glba?

GLBA terms protected information as “nonpublic personal information” or “NPI.” NPI is “personally identifiable financial information: (i) provided by a consumer to a financial institution, (ii) resulting from a transaction or service performed for the consumer, or (iii) otherwise obtained by the financial institution.” …

What is NPI data?

The Privacy Rule protects a consumer’s “nonpublic personal information” (NPI). NPI is any “personally identifiable financial information” that a financial institution collects about an individual in connection with providing a financial product or service, unless that information is otherwise “publicly available.”

What are the three arms of GLBA?

The three sections of the GLBA that cover privacy issues are the financial privacy rule, the safeguards rule, and the pretexting provisions. The financial privacy rule deals with the collection and disclosure of private financial information.

Who enforces the GLBA?

The FTC is one of the federal agencies that enforces provisions of Gramm-Leach Bliley, and the law covers not only banks, but also securities firms, and insurance companies, and companies providing many other types of financial products and services.

What is non personal information?

Non-Personal Information is traditionally information that may not directly identify or be used to contact a specific individual, such as an Internet Protocol (“IP”) address or mobile device unique identifier, particularly if that information is de-identified (meaning it becomes anonymous).

What are examples of nonpublic personal information?

For example, nonpublic personal information may include names, addresses, phone numbers, social security numbers, income, credit score, and information obtained through Internet collection devices (i.e., cookies).

Who of the following is considered a customer under GLBA?

Under the GLBA, all customers are consumers, but not all consumers are customers. … A consumer is anyone who obtains from a bank any financial product or service that is to be used primarily for personal, family, or household purposes.

Is a loan number sensitive information?

The most common definition of “personal information” refers to a consumer’s first name and last name linked to any one or more of the following data elements that relate to the consumer, when the data elements are neither encrypted nor redacted: Social Security number; driver’s license number or state identification …

Who needs an NPI?

All Individuals and Organizations who meet the definition of health care provider as described at 45 CFR 160.103 are eligible to obtain a National Provider Identifier, or NPI. If you are a HIPAA covered provider or if you are a health care provider/supplier who bills Medicare for your services, you need an NPI.

What information is protected by GLBA?

The personal information covered by the GLBA is termed “nonpublic personal information,” which means “personally identifiable financial information — provided by a consumer to a financial institution; resulting from any transaction with the consumer or any service performed for the consumer; or otherwise obtained by …

What are examples of NPI?

Examples of NPI covered by GLBA are: Name, address, income, social security number or other information on an application.

Which are three key rules of the GLBA?

The Act consists of three sections: The Financial Privacy Rule, which regulates the collection and disclosure of private financial information; the Safeguards Rule, which stipulates that financial institutions must implement security programs to protect such information; and the Pretexting provisions, which prohibit …

Is banking information confidential?

Right to Financial Privacy Act As a result of the act, California’s government agencies are not authorized to access financial records unless the consumer gives consent or if a subpoena or a search warrant is issued for the information.

What is considered nonpublic personal information?

means personally identifiable financial information (1) provided by a consumer to a financial institution, (2) resulting from any transaction with the consumer or any service performed for the consumer, or (3) otherwise obtained by the financial institution.

Can a bank disclose information?

categories of information a bank may disclose (all banks, except a bank that does not intend to make any disclosures or only makes disclosures under the exceptions may simply state that) … disclosures about confidentiality and security of information (all banks)

Can you sue a bank for disclosing personal information?

If a bank intends to share your nonpublic personal information with another entity, the bank must give you the choice to ‘opt out” (say “no”) to that sharing. … Under the GLBA, there is no private right of action; that is, individuals cannot file private lawsuits in civil court against a bank.

Can I sue a bank for releasing my personal information?

You can sue anyone for anything but unless you can demonstrate damages, there would be nothing to gain for you. Here the bank made a mistaken breach in confidentiality. You would have to balance the money that you would be…