GLBA

Overview:

On December 9, 2021, the Federal Trade Commission (FTC) issued final regulations (Final Rule) to amend the Standards for Safeguarding Customer Information (Safeguards Rule), an important component of the Gramm-Leach-Bliley Act’s (GLBA) requirements for protecting the privacy and personal information of consumers. The effective date for most of the changes to the Safeguards Rule is June 9, 2023. This Electronic Announcement provides a summary of the changes to the GLBA requirements resulting from the Final Rule, explains the impacts of the changes on postsecondary institutions, and describes changes to the Department of Education’s (Department) enforcement of the GLBA requirements. Institutions should coordinate with their leadership and appropriate staff to implement the requirements in the Final Rule by June 9. https://fsapartners.ed.gov/knowledge-center/library/electronic-announcements/2023-02-09/updates-gramm-leach-bliley-act-cybersecurity-requirements

These operations include (but are not limited to): granting financial aid, providing student loans, and the storage, transmission, and sharing of nonpublic private information (NPPI). The Office Of Information Technology and Security Compliance coordinates and administers the GLBA program as outlined in University Policy.