Compliance Links
Federal Financial Institutions Examinations Council (FFIEC)
www.ffiec.gov
The Council is a formal interagency body empowered to prescribe uniform principles, standards, and report form for the federal examination of financial institutions by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision, and to make recommendations to promote uniformity in the supervision of financial institutions.
Gramm-Leach-Bliley
www.ftc.gov/privacy/privacyinitiatives/glbact.html
The Financial Modernization Act of 1999, also known as the “Gramm-Leach-Bliley Act” or GLB Act, includes provisions to protect consumers’ personal financial information held by financial institutions. There are three principal parts to the privacy requirements: the Financial Privacy Rule, Safeguards Rule and pretexting provisions.
Sarbanes-Oxley (SOX)
http://thecaq.aicpa.org/Resources/Sarbanes+Oxley/
Sarbanes-Oxley (SOX) is the public company accounting reform and investor protection act. It was passed in response to high-profile business failures, such as Enron and WorldCom, in order to reinforce investment confidence and protect investors by improving the accuracy and reliability of corporate disclosure.
Information Privacy
http://www.ftc.gov/privacy/index.html
The Federal Trade Commission is educating consumers and businesses about the importance of personal information privacy, including the security of personal information. Under the FTC Act, the Commission guards against unfairness and deception by enforcing companies’ privacy promises about how they collect, use and secure consumers’ personal information. Under the Gramm-Leach-Bliley Act, the Commission has implemented rules concerning financial privacy notices and the administrative, technical and physical safeguarding of personal information, and it aggressively enforces against pretexting. The Commission also protects consumer privacy under the Fair Credit Reporting Act and the Children’s Online Privacy Protection Act.