Holiday Closure
CU System Administration, the OUC, and FSS Help will be closed on Monday, May 26, in honor of Memorial Day. We will reopen Tuesday, May 27, for normal business hours.
CU System Administration, the OUC, and FSS Help will be closed on Monday, May 26, in honor of Memorial Day. We will reopen Tuesday, May 27, for normal business hours.
The Gramm-Leach-Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999 (15 USC §§ 6801 et seq.), was designed to regulate the disclosure and protection of nonpublic personal information (NPI) collected by a financial institution from an individual in order to obtain a financial product or service from the institution for personal, family, or household purposes.
The three major components of the GLBA include:
The Pretexting Provision of the GLBA is addressed in the Federal Trade Commission’s “Red Flags Rule” (16 CFR § 681.1), that was established after the Financial Privacy and Safeguards Rules in connection with amendments to the Fair Credit Reporting Act (FCRA) (15 U.S.C. § 1681). CU must also comply with this distinct, but related, rule that requires implementation of an identity theft prevention program related to “covered accounts.” The original Red Flags Rule was effective November 1, 2008.
For more information about the Red Flags Rule, see the Administrative Policy Statement Collection of Personal Data from Students and Customers (Red Flags Rule).
The Financial Privacy Rule provides that institutions of higher education that comply with the Family Educational Rights and Privacy Act (FERPA) to protect the privacy of education records – including student financial aid records – are deemed to comply with the rule. For more information about FERPA, see:
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