What are nonpublic personal information?

What are nonpublic personal information?

(A)The term “nonpublic personal information” means personally identifiable financial information— (i)provided by a consumer to a financial institution; (ii)resulting from any transaction with the consumer or any service performed for the consumer; or (iii)otherwise obtained by the financial institution.

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 information is covered by GLBA?

The Gramm-Leach-Bliley Act requires financial institutions – companies that offer consumers financial products or services like loans, financial or investment advice, or insurance – to explain their information-sharing practices to their customers and to safeguard sensitive data.

What is GLBA privacy notice?

The GLBA’s privacy provisions mandate privacy notices and place limitations on the sharing of nonpublic personal information (NPI), defined as “personally identifiable financial information (i) provided by a consumer to a financial institution, (ii) resulting from a transaction or any service performed for the consumer …

What are the benefits of the GLBA?

Compliance with the GLBA protects consumer and customer records and will therefore help to build and strengthen consumer reliability and trust. Customers gain assurance that their information will be kept secure by the institution.

Who does GLBA apply to?

Gramm-Leach-Bliley Act applies to all businesses, regardless of size, that are “significantly engaged” in providing financial products or services to consumers.

Which information set would not be considered nonpublic personal information NPI )?

Nonpublic personal information does not include publicly available information that the financial institution has a reasonable basis to believe is lawfully made available to the general public from (1) federal, state, or local government records, (2) widely distributed media, or (3) disclosures to the general public …

What constitutes non public information?

Information is considered to be nonpublic when it has not been adequately disclosed to the general public. Information ceases to be material, nonpublic information only when it has been widely disseminated to the public or is no longer material.

What is non public data?

Nonpublic data are data on a business or other entity that are only available to the subject of the data or with the subject’s consent (for example, bank account or credit card information).

What is non personal information?

Non-Public Personal Information. Is defined by GLBA as 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 PII, non-PII, and personal data?

Information that is anonymous and cannot be used to trace the identity of an individual is non-PII. Device IDs, cookies and IP addresses are not considered PII for most of the United States. But some states, like California, do classify this data as PII. California classifies aliases and account names as personal information as well.