The Gramm-Leach-Bliley Act (GLBA)
What is GLBA?
Also known as the Financial Services Modernization Act, the Gramm-Leach-Bliley Act (GLBA) was enacted in 1999 to protect private consumer information held by financial institutions.
The GLBA requires banks to develop privacy notices and to provide customers with the option of prohibiting the sharing of their confidential information with non-affiliated third parties. On July 1, 2001, the Act was amended, requiring financial organizations to have a comprehensive, written information security program in place.
Who is affected by GLBA ?
The GLBA applies to virtually every business in the United States engaged in the “financial services” industry: institutions that provide financial products and services to consumers. This applies to all national banks and federal branches of foreign banks that are required to follow US banking regulations.
According to the Act, financial institutions are required to implement a comprehensive, written information security program that includes proper administrative, technical and physical safeguards, the nature of which are dependent upon the size and complexity of the organization. This requirement extends to any subsidiaries of the parent financial organization. The program must be designed to protect consumers’ non-public, personally-identifiable information by ensuring security and confidentiality of data, by preventing potential risks and threats to data, and by protecting against unauthorized access to or use of consumers’ private information.
When using service providers such as an outsourced document destruction company, financial institutions have a duty to safeguard their customers’ information while it is in the possession of the outsourced company. To adhere to this, the financial organization must use due diligence in selecting, managing and monitoring the service provider to ensure consumers’ private information is protected. This includes entering into contracts with an outsourcer when appropriate.
Your Partner in Regulatory Compliance.
By purging outdated files or placing one of our locked security consoles in your office, Proshred® can assist your company in maintaining a document disposal program that meets GLBA regulations. Using state-of-the-art technology, our highly trained and certified security professionals efficiently shred all documents right on your premises. We give you the option to watch the shredding process, and also provide you with a Certificate of Destruction that records each shred. Trust Proshred® as your partner in compliance with GLBA shredding requirements for maintaining your document security program.
For more information on the Gramm-Leach-Bliley Act (GLBA), please visit: Federal Trade Commission.
What Are People Saying About Proshred®
Today, Tuesday, 1/10/23, at 2:00 PM, I went to Pro Shred located in Elmsford to drop off two bags of papers. I was not aware that they did not accept cash or Apple Pay.
I am a first time customer, so I did not know the payment method. Met with Lamont, who explained they did not accept cash, however, he did look into the Apple Pay. This is when I met with Steven, who, like Lamont, spoke in a friendly and professional manner. Steven explained an alternative way, which I’d gladly accepted. Overall, the friendly and professional service I received from Steven in Lamont was exceptional. Thank you very much!
I was very pleased to know that they were NOT Dallas Cowboy fans!
Go Giants!
Jay Romano
When contract a job I am very specific about wanting to be charged what I am quoted. Usually I can't even get past the quoting when other companies start saying they will do it by box and then start talking about bin size on the phone. Pro Shed and Tara who quoted the job, did not play any games with me. They quoted a box price and then honored the box price. Not only was Tara grear, but when the guys showed up to do the shredding, they were professional, friendly, confident, and hard-working. Everything went as planned straight through the payment. I would refer anyone to this company at any time, because I feel comfortable that they did a good job for me and would do a good job forgrade,
I needed a little more shredding done, a very small job, just a little residual from the big job at a later date, and they are handling that great as well. I spoke to the manager today about them coming out on Monday for the residual and told him how pleased I was with the service. Unfortunately I can't remember his name but he was so professional as well and I'm so glad that I deal with this company. Don't use anyone else use a class act. ProShred gets 5 starts in all categories.
I have limited need for shredding services--every year or two, I need to shred some old credit card slips and bank statements and such. It is always very easy to load 8-10 boxes of stuff in the back of my station wagon, drive it over to ProShred and then unload it into a bin, pay the fee and I'm on my way. Easy peasy. The staff is aways friendly and cheerful; they will do my shredding for the foreseeable future.