Laws don’t just regulate you and I, but they regulate financial businesses as well. Bail bonds businesses in Santa Clarita and beyond are regulated by the Gramm-Leach-Bliley Act.
The Gramm-Leach-Bliley Act is a law that protects the privacy of consumer information that is held by “financial institutions,” according to a California bail bonds textbook. This law was enacted in the year 1999.
“Our client’s privacy is of the utmost importance to us,” said Inessa Chavez, vice president of All American Bail Bonds in Santa Clarita. “We want our clients to be able to trust us and count on us to be there for them.”
This act ensures that companies to give their clients privacy notices. These notices explain how the business shares information, according to the book.
This gives customers of All American Bail Bonds in Santa Clarita the comfort and ability to limit the businesses from sharing their information.
The act applies to businesses that are “financial institutions.” This means businesses that offer things such as loans, financial advice, or bail bonds with All American Bail Bonds in Santa Clarita.
These businesses are required by this law to protect the information they collect from their customers, according to the textbook.
The privacy notice must be clear and accurate, according to the textbook. The notice is applied to “nonpublic nonpersonal information.”
“Nonpublic nonpersonal information” is the information attained by a business that could be information similar to what one would put on an application and even the fact that a person is a customer or consumer of the financial institution.
“These laws are here to protect our clients and us as business owners,” Chavez said. “We really do value privacy and want to create an environment of trust and respect.”
There are other more detailed aspects of the Gramm-Leach-Bliley Act, they can be found here.
The Federal Trade Commission regulates the Gramm-Leach-Bliley Act and officials with the FTC also regulate banks, thrifts, credit unions, brokerage firms, commodity traders, among others, according to the textbook.
“With Us You Are Never Alone”
All American Bail Bonds
23360 W. Valencia Blvd. #E
Santa Clarita, CA 91355
661-255-2245
Call Toll Free: 888-755-2245
24 hours a day — 7 days a week
If loved one in custody and they wish to talk to an All American Bail Bonds representative call:
818-990-0003 or 661-267-6777
CLIENT.SERVICES@ALLAMERICANBAILBONDS.COM
