What are the Penalties in the Gramm-Leach-Bliley Financial Modernization Act?
Enforced by Federal Trade Commission and an array of financial agencies. Depending on the agency involved, penalties can include: injunctions cease and desist orders, consent decrees and fines ranging from eleven thousand dollars ($11,000) per day to one million dollars ($1 million). Individuals may have a cause of action for violation under State Unfair Trade Practices Acts. This could involve class actions, treble damages and recovery of attorneys’ fees and costs.
For more information, see here: https://www.ftc.gov/business-guidance/privacy-security/gramm-leach-bliley-act
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