Moore, Bank on It: The
Financial Services Modernization Act of 1999, ARK.
Privacy was not an issue during the first four years of debate on the
Financial Services Modernization Act of 1999 (the GrammLeach-Bliley act).
Several legislators, state departments and even the state governor are looking to impose new privacy rules in California that would be more stringent than those set forth in the
Financial Services Modernization Act of 1999, better known as Gramm-Leach-Bliley.
But the passage of the Gramm-Leach-Biley
Financial Services Modernization Act of 1999 has created some unlikely, and profitable, marriages .They are marriages of convenience, to be sure.
Insurers can move ahead of banks and brokers in online selling by offering other financial products as allowed by the
Financial Services Modernization Act of 1999.
Title V of the Gramm-Leach-Bliley
Financial Services Modernization Act of 1999 contains comprehensive federal privacy protections for consumers, and it impacts all financial institutions, including insurance companies.
The biggest development in the wake of the
Financial Services Modernization Act of 1999 may be that international competitors will make larger inroads into the U.S.
The Gramm-Leach-Bliley
Financial Services Modernization Act of 1999 has contributed to the use of data warehousing and data-mining techniques in both the banking and insurance industries.
The five trade groups submitted a document to the IRS in July noting that enactment of the
Financial Services Modernization Act of 1999 will "increase the frequency of sales and purchases of insurance companies." As a result, the industry and the public need clear federal guidance on associated tax issues and liabilities, as to the final application of the IRS ruling for the industry.
As with the Gramm-Leach-Bliley
Financial Services Modernization Act of 1999, there is concern about the definition of "nonpublic" or "identified" information.
ReliaStar said it is the first financial-services company to receive permission to organize and operate a national bank under the
Financial Services Modernization Act of 1999.