Credit Card Glossary: Terms and Definitions
Confused by credit card terms? CreditCards.com's glossary of credit card definitions will help. From account holder to Regulation Z, we have defined the most-common and most-confusing credit card terms.
- Gramm-Leach-Bliley Act
- Enacted in 1999, the Gramm-Leach-Bliley Act (GLBA) aims to protect consumers’ privacy in their financial lives. It requires financial institutions, including credit card issuers, to disclose how they share consumers’ non-public information. It also requires them to develop policies to protect consumers’ sensitive data. Under the law’s Privacy Rule, lenders and other financial institutions provide customers with annual “privacy notices” explaining how their information is shared. Consumers have the right to opt out of sharing their information with entities outside the company.