Financial
Banks, Credit Unions, Accountants, Investment Firms, etc. must comply with at least two laws:
- Gramm-Leach-Bliley Act (GLB)
- Fair and Accurate Credit Transactions Act (FACTA)
Gramm-Leach-Bliley Act (GLB)
The Safeguarding Provisions of GLB protect consumers’ personal financial information held by financial institutions and requires the secure disposal by shredding of files and records that contain Non-Public Information (NPI) of a financial nature of your clients’.
GLB compliance, in terms of document and electronic media destruction, includes the requirement for financial organizations to do due diligence in choosing a reliable vendor for the secure disposal of NPI.
Fair and Accurate Credit Transactions Act (FACTA)
The FACTA Disposal Rule broadly covers “any record about an individual, whether in paper, electronic, or other form that is a consumer report (also known as a credit report) or is derived from a consumer report.”
FACTA compliance, in terms of document and electronic media destruction, includes the requirement for organizations that possess or maintain such information to take “reasonable measures to protect against unauthorized access to or use of the information in connection with its disposal.” Organizations should also do due diligence in choosing a reliable vendor for the secure disposal of such information.
SecurShred’s annual AAA certification by the National Association of Information Destruction (NAID) ensures that our employees, facilities, equipment and processes meet stringent security guidelines to ensure GLB and FACTA compliance.
