Gramm-Leach-Bliley Act - GLB
- Credit Card Numbers
- Social Security Numbers
- Drivers License Information
- Financial Aid Information
- Bank Account Numbers
- Credit Histories
- Payment Histories
- Income Records
- Date and Location of Birth
- Account Balances
- Automated Clearing House (ACH) Numbers
This applies to student, parent, and employee financial information!
HOW DOES THIS AFFECT MY WORK?
The Gramm-Leach-Bliley (GLB) Act, like the Federal Educational Rights & Privacy Act (FERPA), works to protect the privacy of individuals that provide personal information to institutions of higher education. Compliance with FERPA requirements brings Monroe Community College (MCC) into general compliance with GLB privacy rules. To comply with GLB requirements, an employee may be asked to:
- Participate in training
- Obtain approval from a trained supervisor before releasing protected information
- Obtain a written waiver from an individual before releasing that individual's protected information, even to third-party vendors
- Take steps to secure workspaces
- Identify and report potential breaches of GLB safeguards
GLB applies to situations in which the college "acts like a bank." Covered financial services include:
- Student loans (receiving applications, and making and servicing loans)
- Employee emergency and other short-term loans
- Collection on delinquent loans
- Check cashing services
- Purchases made using a college-maintained student account
Employees should be alert to schemes used to fraudulently obtain information. For instance, "pretext callers" offer a few pieces of personal information about an individual to encourage an employee to divulge additional information.
Quick Privacy Tips
- Shred documents containing protected information before disposing of them in office trash bins
- Do not request protected information by e-mail
- Don't provide or confirm protected information over the phone
- Do not share your password or record it in a non-secure location
AT A GLANCE
Title: Financial Services Modernization Act
Signed into Law: 1999; college compliance required as of May 23, 2003
Official Oversight: U.S. Federal Trade Commission
Issues Addressed:
- Securing personal financial information
- Keeping personal financial information private
Organizations Covered:
Banks, mortgage brokers or lenders, automobile dealers, insurance companies, real estate agents and appraisers, securities firms, financial planners, credit card companies, credit unions, data processors, debt collectors, retailers that issue credit cards, consumer reporting agencies, check-cashing businesses, institutions of higher education
MCC Units Affected:
- Admissions
- Bursar's Office
- Educational Opportunity Program
- Financial Aid
- MCC Student Association
- Registrar
Who to Contact:
Contact the Bursar's Office at (585) 292-2015 with GLB-related questions.
Safeguarding Information
GLB safeguarding rules require administrative, physical, and technical protection of financial information that extends beyond FERPA. MCC's response to GLB requirements is part of a larger institutional effort to protect individual privacy. MCC is currently implementing an Information Security Policy modeled on State University of New York standards.
