Gramm-Leach-Bliley Act

The American Bar Association was recently successful in its lawsuit challenging the FTC's decision that lawyers are subject to the privacy provisions of the Gramm-Leach-Bliley Act if, as part of their law practice, they provide real estate, tax, estate planning or other financially related legal advice to individuals. The FTC has until July 12, 2004, to decide whether to appeal.  Go to American Bar Association Legislative and Governmental Advocacy:  Gramm-Leach Bliley Act Fact Sheet to view the text of the Act, the motions and briefs, the court decision, the statement of ABA President Dennis W. Archer, information on compliance, and much more. 

In response to the ABA's request, the General Counsel of the FTC issued a letter which can be seen at http://www.abanet.org/poladv/FTC%20Ltr%20re%20GLBA.pdf stating that unless and until the district court's decision is reversed, the FTC will not bring enforcement actions against or investigate any practicing lawyer for failing to comply with the privacy provisions of the Act during the period preceding reversal.