The Largest Directory of GLBA Complaint Repossession Professionals

Numerous federal, state, and local statutes regulate how consumers’ information is used by businesses that lend money. To protect your business, it’s important to employ a GLBA compliant repossession professional who knows the laws inside and out.

The Gramm-Leach-Bliley Act—otherwise known as the GLBA—is a federal privacy regulation that imposes obligations regarding disclosure of information-sharing practices. Below are highlights of the GLBA:

• Service providers (such as repossession agents) are recognized as “Business Associates” and may have access to any personal information required to perform their requested tasks.
• It is then the responsibility of the “Business Associate," its employees and agents to provide the same protection to the personal information that would be required of the original financial institution.

To ensure compliance, TFA members operate with a focus on compliance and are consistently educated on changing state and federal laws. Our member repossession agencies encourage distribution of the required documents to all their employees, agents, and vendors who have access to this personal information.

Protect your business from federal, state and local legal issues. Only employ repossession agents with the professionalism and training of TFA members. For more information on how this industry practice affects you as a lender, contact TFA today.