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Updates to the Gramm-Leach-Bliley Act Cybersecurity Requirements | Knowledge Center

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On December 9, 2021, the Federal Trade Commission (FTC) issued final regulations (Final Rule) to amend the Standards for Safeguarding Customer Information (Safeguards Rule), an important component of the Gramm-Leach-Bliley Act’s (GLBA) requirements for protecting the privacy and personal information of consumers. The effective date for most of the changes to the Safeguards Rule is June 9, 2023. This Electronic Announcement provides a summary of the changes to the GLBA requirements resulting from the Final Rule, explains the impacts of the changes on postsecondary institutions, and describes changes to the Department of Education’s (Department) enforcement of the GLBA requirements. Institutions should coordinate with their leadership and appropriate staff to implement the requirements in the Final Rule by June 9. Postsecondary institutions and third-party servicers must protect student financial aid information provided to them by the Department or otherwise obtained in support of the a

Posted Date February 09, 2023 Author Federal Student Aid Electronic Announcement ID GENERAL-23-09 Subject Updates to the Gramm-Leach-Bliley Act Cybersecurity Requirements On December 9, 2021, the Federal Trade Commission (FTC) issued final regulations (Final Rule) to amend the Standards for Safeguarding Customer Information (Safeguards Rule), an important component of the Gramm-Leach-Bliley Act’s (GLBA) requirements for protecting the privacy and personal information of consumers. The effective date for most of the changes to the Safeguards Rule is June 9, 2023. This Electronic Announcement pr

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