When it comes to preserving the privacy of our “non-public, private
information,” our government has taken steps to protect us – as consumers –
but not as business owners and managers.
The Gramm-Leach-Bliley Financial Modernization Act of 1999 addresses
measures to protect consumer privacy with respect to relationships with
banks like mine and other financial services companies.
The main thrust of the act is to require banks, other lenders, financial
advisors and insurance companies to disclose their information-sharing
practices (privacy policy) to their non-commercial customers.
That was a smart move. Consumers gained more privacy protection from
businesses.
As for those of us who run businesses, when it comes to protecting our
privacy, we’re on our own. And I’m here to tell you, we sometimes need
protection from ourselves.
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