Gramm-Leach-Bailey Act
Part 1
Part 1
What year was this act created?
1999
what does HIPAA stand for?
Health Insurance Portability & Accountability Act
what does FTC/ FCC stand for?
Federal Trade Commission/ Federal Communication Commission
what does FDCPA stand for?
Fair Debt Collection Practices Act
what does the pretexting provision prohibit?
3rd parties from obtaining personal information through fraud or trickery
This was designed to?
protect the privacy of consumer information held by financial institutions covers
what is a covered entity?
generally, healthcare providers, healthcare insureres and medical billing services
what happed in 2003?
FTC/FCC issue telemarketing sales rule which implemented the national do not call list
what does the FDCPA require?
to identify themselves
notify the customer about the debt
provide verification of the debt upon request
notify the consumer his or her right to dispute the debt
Requires the use of computer fire walls and encryption devices to protect consumer information
the safeguard rule
who does this act cover?
traditional financial institutions: bank, stockbrokers and insurance companies
any business that provides financial products and services to consumers: mortgage lenders, loan brokers, tax preparers, debt collectors and financial advisors
neither
what time are debt collectors prohibited from calling?
before 8am and after 9pm local time
Who issues the privacy notice and safeguard consumer information when pre-need is sold at funeral home?
insurance company
THE FINANCIAL PRIVACY RULE, THE SAFEGUARD RULE, THE PRETEXTING PROVISIONS
what section in the HIPAA privacy rule includes funeral directors?
section 164.512
According to this law, funeral homes may be liable for?
a telemarketer such as a preneed insurance agency representing the Funeral Home violates the telemarketing sales law
Does FDCPA apply to Funeral Homes?
No because it is a business seeking to collect their own debt therefore the prohibitions and requirements of the FD CPA will not apply to the Funeral Home which is contacting consumers about overdue accounts and unpaid bills
What does this act cover a funeral home?
no because it does not significantly engage in financial activities
Purpose of the financial privacy rule?
inform the consumers of the type information the financial institution collect from the consumer and who they share it with
what year did HIPAA begin? significance?
Health Insurance Portability & Accountability Act. 1996. most significant protection of patients medical and health information
Exemption beneficial to a Funeral Home
do not call restrictions do not apply to telephone calls that are initiated by consumers in response to a general media advertising or direct mail advertising
How would this rule apply to a funeral home?
if they retain debt collectors or attorneys to collect a consumers debt
What chapter does this information come from?
Chapter 16 :-)