The financial services industry has fascinated me since high school when I participated in a University Program focusing on the industry. During this time I became familiar with the Gramm-Leach Bliley Act (GLBA) and other legislation that was reshaping the industry. In this paper I shed light on key events and acts that have transformed the financial services industry with a particular focus on the GLBA. I argue that the GLBA is not revolutionary, but rather evolutionary. Second, I argue that the consumer privacy portion of the GLBA is the most vital part because of the massive amount of personal information available in today’s market. Finally, the Gramm-Leach Bliley Act impacts me directly since I hope to become a Financial Advisor and the provisions of the Act will permit me to sell all types of financial instruments.
Recommended CitationZamanian, Bijan, "The Effect of the Gramm Leach Bliley Act on the Financial Services Industry" (2007). Honors Projects in Finance. Paper 1.