Privacy Notices Only Opening Act in Firms' Legal Duties Business Journal of Kansas City Online (08/03/01) Vol. 83, No. 1 p.40; Botkin, Jeanie A.
Privacy notices are only the beginning for financial
institutions ordered to comply with new privacy laws.
Gramm-Leach-Bliley (GLB) requires financial services companies to issue
privacy notices to their customers allowing them to opt-out of
information sharing by July 1. But according to Jeanie A. Botkin,
writing for The Business Journal of Kansas City, the privacy notices
include a pledge by the financial institution to maintain physical,
electronic, and procedural safeguards to protect customers' information,
and this alone guarantees that efforts to protect consumer privacy will
not stop at the notices, but will be ongoing.