Gramm-Leach-Bliley
Financial Services Modernization Act

General Civil Penalty for Failure to Comply
  ▪ Officers and Directors personally liable for not more than $10,000 for each violation

  ▪ The financial institution liable for penalties not to exceed $100,000 for each violation

Criminal Penalties
  ▪ Fines in accordance with Title 18 of the United States Code, imprisonment for not more than 5     years, or both

  ▪ Where a violation occurs while violating another federal law, or as part of a pattern of any illegal     activity involving more than     $100,000 within a 12 month period, fines of up to twice the amount     provided in Title 18 of the USC and imprisonment for more than
    10 years, or both

FDIC Sanctions (specified in Section 8 of the FDIC)
  ▪ Termination of FDIC insurance

  ▪ Cease and Desist Orders barring policies or practices deemed in violation of the:

Act’s Privacy Provisions
  ▪ Removal of management, directors, officers etc. and potentially barring them, permanently, from     working in the banking industry