HIPAA: Health Insurance Portability and Accountability Act was enacted in 1996 and includes provisions intended to safeguard the privacy of patient health records. HIPAA is a significant piece of legislation with burdensome penalties.
GLB: Financial Modernization Act of 1999, also known as the "Gramm-Leach-Bliley Act" includes provisions to protect consumers’ personal financial information held by financial institutions. This law was designed to compel financial institutions to "respect the privacy of its customers and to protect the security and confidentiality of those customers' non-public personal information." This language suggests that paper documents containing such personal information should also be protected when in use and safely destroyed when no longer current and usable.
FACTA: Fair and Accurate Credit Transactions Act of 2003 was signed into law on December 4, 2003. The act amends the Fair Credit Reporting Act (FCRA). The act contains a number of provisions intended to combat identity theft, consumer fraud, and other related crimes. Specifically the act requires the destruction of papers containing consumer information.
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