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FTC Safeguards Rule Compliance Services
The FTC Safeguards Rule, part of the Gramm-Leach-Bliley Act (GLBA), requires non-banking financial institutions to develop, implement, and maintain a comprehensive information security program to protect customer information. Compass IT Compliance helps organizations interpret the rule's requirements, close security gaps, and build a defensible compliance program that stands up to scrutiny.
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Building a Compliant Information Security Program Under the FTC Safeguards Rule
The FTC Safeguards Rule sets the standard for how financial institutions protect customer data under the Gramm-Leach-Bliley Act (GLBA). The rule applies to a far broader range of businesses than many realize, extending well beyond banks to auto dealers, mortgage brokers, tax preparers, CPA firms, investment advisors, and other companies that handle consumer financial information. Covered organizations must maintain a written information security program with defined administrative, technical, and physical safeguards, along with a designated Qualified Individual responsible for oversight.
Failure to comply carries real consequences, including FTC enforcement actions, financial penalties, and reputational damage. Yet many organizations struggle to translate the rule's requirements into practical, day-to-day controls. That is where Compass IT Compliance delivers value. Our team helps you understand exactly which obligations apply to your business and builds a security program tailored to your risk profile, size, and complexity.
Our FTC Safeguards Rule Compliance Services
From the F&I office to the back-end deal jacket, Compass IT Compliance helps auto dealers, lenders, and other covered financial institutions turn Safeguards Rule requirements into a working GLBA compliance program. Every engagement is tailored to your size, risk profile, and industry, so you get controls that fit how your business actually operates rather than a generic checklist. Our team combines hands-on cybersecurity expertise with a practical understanding of what regulators expect, helping you protect customer information while keeping day-to-day operations running smoothly. Whether you are starting from scratch or maturing an existing program, our team delivers the following services:
IT Risk Assessment
Required Policy Development
Incident Response Planning
Vendor Selection and Management Program
Annual GLBA Reporting Framework
Ongoing FTC Safeguards Consulting
FTC Safeguards Rule Compliance Frequently Asked Questions
The FTC Safeguards Rule is a regulation under the Gramm-Leach-Bliley Act that requires financial institutions to develop and maintain a written information security program to protect customer information. It sets specific standards for administrative, technical, and physical safeguards designed to keep sensitive financial data secure.
The rule applies to a wide range of businesses the FTC defines as "financial institutions," a definition much broader than the term suggests in everyday use. It covers non-banking businesses that handle consumer financial information, including auto dealerships, mortgage brokers and lenders, tax preparers, payday lenders, finance companies, collection agencies, and investment advisors that are not required to register with the SEC. Notably, the rule does not apply to banks or federally insured credit unions, which are regulated by other federal authorities. Many organizations are surprised to learn they fall under the rule's scope.
Covered organizations must designate a Qualified Individual to oversee the program, conduct a written risk assessment, implement safeguards such as access controls, encryption, and multi-factor authentication, oversee third-party service providers, provide security awareness training, and report to leadership at least annually. The program must be documented in writing and updated as the business changes.
Non-compliance can result in FTC enforcement actions, civil penalties, mandatory corrective measures, and significant reputational harm. Beyond regulatory risk, an inadequate security program leaves customer data exposed to breaches that can be costly and damaging to your business.
Compass IT Compliance provides end-to-end support, from conducting your risk assessment and writing required policies to building a vendor management program, developing an incident response plan, framing your annual GLBA report, and delivering ongoing compliance consulting. We tailor the entire program to your organization's size, industry, and risk profile.
Related Resources
Educational content and resources related to our FTC Safeguards Rule compliance services: