FTC Updates to “Safeguards Rule” Has Impacts for Higher Education Institutions

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On December 9, 2021, the FTC published a final rule amending the requirements for safeguarding customer information under the Gramm-Leach-Bliley Act (GLBA). The Safeguards Rule has long established cybersecurity standards under which customer information must be maintained by financial institutions, which include all higher education institution that participate in the federal student financial aid programs authorized by Title IV of the Higher Education Act of 1965, as amended.

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