(
Gramm-
Leach-
Bliley
Act) Enacted in 1999 and effective mid-2001, the GLBA (officially the Financial Services Modernization Act of 1999) stipulates that every financial institution shall protect the security and confidentiality of its customers' confidential personal information. In addition, the Act requires data subjects to be informed of privacy policies and to have an opportunity to inspect and correct their own records. See
privacy.