SAN MATEO, Calif. PrivacyRight Inc., a provider of privacy infrastructure software products, has introduced a software filter to help banks, insurers, and securities firms comply with the privacy provisions of the Gramm-Leach-Bliley Act.
The act requires that financial institutions regularly communicate their privacy policies to customers, and that they also let customers bar them from giving out information to unaffiliated parties.
The PrivacyRight TrustFilter comes with professional service consultation aimed at evaluating and assessing privacy-related risk and exposure across all business and data silos.
In addition, it is designed for compliance with the more stringent Safe Harbor Agreement of the European Union Directive on Data Privacy, which requires U.S. businesses operating in Europe to provide consumers with notice, opt-in choice, access and security in regard to their personal information.
Financial institutions have until July 1 to comply with the regulations.