Timeline of federal privacy legislation
By Lucy Lazarony • Bankrate.com

Under the Gramm-Leach-Bliley Act, a financial institution must disclose its privacy policy when a consumer signs on as a customer and at least once a year thereafter. Financial institutions must give consumers the chance to block the sharing of "non-public" information, including transaction and customer experience data such as account balances, with third-party marketers. The new law also prohibits financial institutions from sharing or selling customer account numbers to outside marketers.

-- Posted: Feb. 16, 2000