Gramm-Leach-Bliley Act (GLBA) Compliance with SCF Connect
Use SCF Connect to map your security controls to GLBA, assess maturity, and achieve audit readiness — all from a single GRC platform built on the Secure Controls Framework.
What Is GLBA?
The Gramm-Leach-Bliley Act (GLBA) requires financial institutions to explain their information-sharing practices to customers and to safeguard sensitive data. The FTC's Safeguards Rule (16 CFR 314), updated in 2023, specifies the concrete security requirements that non-banking financial institutions must implement, including risk assessments, access controls, encryption, multi-factor authentication, incident response plans, and ongoing monitoring.
GLBA's definition of "financial institution" is broad — it covers not just banks and credit unions, but also mortgage brokers, payday lenders, tax preparers, real estate settlement services, debt collectors, financial advisors, and any business significantly engaged in providing financial products or services. The 2023 Safeguards Rule amendments added specific technical requirements that transformed GLBA from a principles-based regulation into one with prescriptive security controls.
SCF Connect maps the GLBA Safeguards Rule (CFR 314, December 2023) to the Secure Controls Framework, giving financial institutions a structured way to implement and track the required safeguards. Organizations can manage GLBA alongside PCI DSS, SOC 2, NIST CSF, and state financial privacy requirements in a single compliance platform.
Who Needs GLBA Compliance?
- Banks, credit unions, and savings institutions
- Mortgage lenders, brokers, and servicers
- Insurance companies and financial advisors
- Tax preparation services and accounting firms
- Auto dealers, payday lenders, and debt collectors
How SCF Connect Helps with GLBA
Automatic Control Mapping
SCF Connect maps SCF controls directly to GLBA requirements. Select the framework and your required controls are identified instantly.
Maturity Assessment
Assess each control against the SCF Capability Maturity Model (SP-CMM) to understand your current posture and track improvement over time.
Evidence Collection
Generate Evidence Request Lists (ERLs) specific to your GLBA controls. Know exactly what documentation you need for your audit.
Gap Analysis
Use the SCRMS methodology to identify gaps between your compliance requirements and your actual security posture, then prioritize remediation.
Compliance Reporting
Generate detailed reports showing your GLBA compliance status, control maturity scores, and evidence collection progress.
Multi-Framework Support
Already mapped to another framework? Add GLBA and see how your existing controls satisfy additional requirements — no duplicate work.
Frequently Asked Questions About GLBA
What is GLBA?
The Gramm-Leach-Bliley Act is a federal law that requires financial institutions to protect the security and confidentiality of customer financial information. The FTC's Safeguards Rule (16 CFR 314) specifies the technical and administrative safeguards financial institutions must implement.
Who is considered a financial institution under GLBA?
GLBA defines "financial institution" broadly to include any business significantly engaged in providing financial products or services. This covers banks, credit unions, mortgage companies, insurance providers, tax preparers, financial advisors, real estate settlement services, auto dealers that arrange financing, and debt collectors.
What changed in the 2023 Safeguards Rule update?
The 2023 amendments added specific requirements including mandatory risk assessments, access controls, encryption of customer data in transit and at rest, multi-factor authentication, secure development practices, change management, incident response plans, and annual reporting to the board of directors.
How does SCF Connect help with GLBA compliance?
SCF Connect maps the GLBA Safeguards Rule (CFR 314, 2023) to the Secure Controls Framework. Select GLBA and the platform identifies every required safeguard, tracks your implementation progress, and generates evidence documentation. Your GLBA controls automatically cross-map to PCI DSS, SOC 2, NIST CSF, and other financial services frameworks.