I have been receiving privacy notices in the mail from my bank and credit union, finance company, insurance company, and investment firm. What is this all about?

In 1999 the Federal government passed a law called the Gramm-Leach Bliley Act. The law requires these institutions to send you a notice regarding your privacy rights by July 1, 2001. In the notices, the companies must tell you what information they collect about you and with whom they share that information. Further, they must offer you an opportunity to "opt-out" of having your information shared beyond exceptions provided by law.  more