Consumer complaint received 2024-05-05
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: CBC Companies, Inc. (GA)

Subject : Dispute Regarding Violation of the Gramm-Leach-Bliley Act Privacy Rule Dear Sir/Madam, I am writing to bring to your attention a serious matter regarding the violation of the Gramm-Leach-Bliley Act ( GLBA ) Privacy Rule by ( innovis ). As a consumer, I am deeply anngry about the mishandling of my nonpublic personal information, which is protected under the GLBA Privacy Rule. The GLBA Privacy Rule is designed to safeguard consumer financial privacy and restrict the disclosure of nonpublic personal information to nonaffiliated third parties without the consumer 's consent. It is essential for financial institutions, including credit bureaus, to comply with these regulations to protect consumer rights and privacy. I know that [ innovis ] has failed to adhere to the provisions of the GLBA Privacy Rule by [ describe the specific violation, e.g., unauthorized sharing of my credit information with a third party without my consent ]. This breach of privacy regulations is unacceptable and puts my personal financial information at risk. 

XXXXXXXX XXXX Account number XXXX Date opened XX/XX/2020 Balance {$230.00} According to the Federal Trade Commission 's guidelines on the GLBA Act, financial institutions must notify consumers about their information- sharing practices and provide them with the opportunity to opt-out of sharing their information with certain nonaffiliated third parties. Any entity that receives consumer financial information from a financial institution is also bound by restrictions on the reuse and redisclosure of that information. 

XXXXXXXX XXXX Account number XXXX Date opened XX/XX/2020 Balance {$230.00} I demand that [ Innovis ] remove accounts from my credit report immediately and provide a detailed explanation of the steps taken to rectify the violation of the GLBA Privacy Rule. I also request that you correct any inaccuracies in my credit report resulting from this violation and take measures to prevent similar incidents in the future. 

XXXX XXXX Account number XXXX Date opened XX/XX/2020 Balance {$230.00} What are the GLBA Compliance Requirements? GLBA compliance is a part of the Federal Trade Commission ( FTC ). According to the GLBA, the three main components that a company needs to meet are : 1. The Financial Privacy Rule The first component of the GLBA compliance checklist is the Financial Privacy Rule. The main purpose of the Financial Privacy Rule is to provide an agreement between financial institutions and their customers regarding the protection of their Non-Personal Information ( NPI ). According to the Financial Policy Rule, a business should provide suitable notices of its privacy norms and policies to consumers. Consumers are defined as those individuals who are using the product or services of the business. The notice should include details regarding : With whom the information is being shared? How will the shared information be used? How will private data be protected? The Financial Policy Rule provides details pertaining to the collection and disclosure of private financial information to regulate the sharing of Non-Personal Information ( NPI ) of your customers with external agencies. It also requires businesses to provide the customers the choice to opt in or out of having their NPI ( Non-Personal Information ) disclosed to non-affiliated third parties. 2. The Safeguards Rule According to the Safeguards Rule, financial institutions must develop, implement, and maintain a detailed information security plan that explains how the business is protecting customers ' and previous customers ' nonpublic personal information ( NPI ). The 'Safeguards Rule ' should provide details regarding the measures adopted towards building up an NPI protection plan for better cybersecurity including : Protection against common attack vectors, cyber threats, and cyber attacks Protection from data leaks, data breaches, and unauthorized access for use of nonpublic personal information ( NPI ). 3. The Pretexting Provisions The Pretexting Provisions rule supports financial institutions to build up protection against the problem of social engineering or pretexting. This usually happens when a fraud person impersonates the account holder by telephone, mail, or often by phishing or spear-phishing and tries to get unauthorized or fraudulent access to personal information. The most popular compliances for Pretexting Provisions include : A comprehensive written plan for scrutinizing account activity Conducting staff training exercises to ensure the prevention of providing NPI to fraudulent entities by employees Identifying and carrying out Operations Security ( OPSEC ) processes for risk management What are Penalties for GLBA Non- Compliance? GLBA non-compliance penalties can be quite serious for financial institutions. They include both monetary fines as well as imprisonment. The GLBA non-compliance penalties include : A fine of up to {$100000.00} for each violation A fine of up to {$10000.00} for officers and directors of the financial institution In case of a serious violation, individuals may be imprisoned for up to 5 years Revocation of licenses I feel like ( innovis ) have violated the following Failure to Provide Privacy Notices : Financial institutions are required to provide customers with privacy notices that explain the types of personal information that the institution collects, how that information is used, and how it is shared. Non-compliance with this requirement can result in penalties and fines. Unauthorized Access to Customer Information : Financial institutions are required to establish appropriate safeguards to protect customer information from unauthorized access. If an institution fails to secure its systems or fails to properly authenticate users, it could lead to a data breach that exposes customer information. Inadequate Information Security Policies : The GLBA requires financial institutions to develop and implement information security policies that protect customer information. If an institution fails to develop adequate policies or fails to implement them effectively, it could result in a data breach and expose customer information. Failure to Train Employees : Financial institutions are required to train employees on how to comply with the GLBAs privacy and security requirements. If an institution fails to provide adequate training, employees may inadvertently violate the laws requirements, leading to penalties and fines Inadequate Vendor Management : Financial institutions are required to ensure that vendors who have access to customer information are also complying with the GLBAs privacy and security requirements. If an institution fails to adequately manage its vendors, it could result in a breach that exposes customer information. 

XXXX XXXX ( founding partner of XXXX XXXX XXXX XXXX will be assisting me in seeking damages against ( innovis ) under the ground of violating the The Gramm-Leach-Bliley Act ( GLBA ). XXXX XXXX Account number XXXX Date opened XX/XX/2020 Balance {$230.00}