GLBA Preemption and the Future of State Financial Privacy Laws

Representative Bill Huizenga's draft bill to modernize the Gramm-Leach-Bliley Act could mark the most significant overhaul of U.S. financial privacy regulation in more than two decades.

In this episode of RegFi, co-hosts Jerry Buckley and Sherry Safchuk examine how the proposal would reshape the federal-state balance through broad preemption, introduce new data minimization standards, and expand consumer rights around access and deletion. They also explore the bill's treatment of financial data aggregators, evolving expectations for AI disclosures, and the operational challenges institutions may face.

Links:

• House Financial Services Committee Discussion Draft
• Orrick Financial & Fintech Advisory
• RegFiPodcast.com