GLBA Compliance Checklist: Keeping Financial Data Safe And Secure
GLBA compliance isn’t something to take lightly. These measures are strictly enforced by the Federal Trade Commission (FTC). In 2018, for instance, Venmo and its parent company PayPal reached a settlement after complaints about the company’s handling of privacy disclosures. The peer-to-peer payment app had 150 days to adhere to GLBA compliance, or it faced fines of up $41,484 per violation.