LEGAL COMPLIANCE

HEALTH INFORMATION PORTABILTY AND ACCOUNTABILITY ACT (HIPAA)
Civil penalties up to $25,000.00 per person per year and criminal penalties up to $250,000.00 and 10 years in prison for failure to protect all medical records and other individually identifiable health information.

GRAMM-LEACH-BLILEY ACT (GLB)
Civil penalties up to $1,000,000.00 for an individual and lesser of $1,000,000.00 or 1% of the total assets of the financial institution for failure to insure the security and confidentiality of customer records and information provided to obtain a financial product or service, in addition to protecting against anticipated threats or unauthorized use.

FAIR AND ACCURATE CREDIT TRANSACTIONS ACT OF 2003, SECTION 216
Effective June 1, 2005. All owners of consumer information records will be required to take reasonable steps to select and retain a service provider that is capable of properly disposing of the consumer information as issue: notify the service provider that such information is consumer information: and enter into a contract that requires the service provider to dispose of such information in accordance with this rule.