Drafting a Privacy Policy for Websites – How Can US Banks Comply with Current Regulations?

• By: ComplianceOnline Expert
• Date: March 16, 2012

The passing of the Gramm Leach Bliley Act required US banks to ensure that their customers' information and records are kept in the strict confidence. As online banking operations evolved, the need arose for privacy requirements to be encoded in a privacy notice or policy on bank websites. This article explains the best practices that banks should follow in order to ensure regulatory compliance.