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Which of the acts requires financial institutions develop and implement an information security program that is based upon a risk assessment and a formal written security plan?
SOX (The Sarbanes-Oxley Act)
FERPA (The Family Educational Rights and Privacy Act)
COPPA (The Children's Online Privacy Protection Act)
GLBA (The Gramm-Leach-Bliley Act)
The Gramm-Leach-Bliley Act (GLBA) requires companies defined under the law as “financial institutions” to ensure the security and confidentiality of this type of information. In response to the GLB Act, the Federal Trade Commission (FTC) issued the Safeguards Rule, which requires financial institutions to implement information security programs based upon a risk assessment and a formal written security plan.
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