ipl-logo

Gramm-Bliley Act Of 1999 (FSMA)

512 Words3 Pages

Over time, “computer and information technology (IT) for gathering, storing, manipulating, and communicating data are revolutionizing the use and spread of information” (Lynch, 1994, para. 1), in which IT is making the world that has become more open, “ubiquitous in the lives of people across the global” (Sullings, 2014, para. 1). Along the way, every advancement in information technology (IT) is accompanied by ethical issues (Mehrotra, 2012, p. 419). The fundamental ethic issues in IT are the privacy, property, accuracy, and use of individuals’ personal sensitive information. The Fair Credit Reporting Act of 1970 (FCRA); and the Financial Services Modernization Act of 1999 (FSMA), which also known as Gramm-Leach-Bliley Act of 1999 (GLBA) are two examples of important pieces of legislation regarding the financial industry and privacy. These two legislations have been created as a direct response to consumer privacy and security protections in the advancements of IT that resulted in new ethical issues. …show more content…

The “inadvertent loss of personal financial data” (Reynolds, 2014, p. 135), will result in a high risk of loss of privacy and security protections when accessing many of these financial products and services. According to Ethics in Information Technology (Reynolds, 2014), “The FCRA regulates the operations of credit-reporting bureaus... is designed to ensure the accuracy, fairness, and privacy of information gathered by the credit-reporting companies…” (Reynolds, 2014, pp. 135-136). In other words, the FCRA was created to protect consumers from the possible misuse of individuals’ personal information, such as employment, housing, and

Show More
Related

  • Townshend Act Research Paper

    172 Words  | 1 Pages

    On March 5 1770, a street fight occurred between British soldier and a crowd of colonist, assembler at the custom house in Boston and started insulting the British soldier who was guarding the building; Those colonist where protesting because of the occupation of their city by the British troops sent there in Boston to authorize a taxation measure passed by the British parliament and needed American representation, and also call a Townshend Acts. While colonist was protesting outside the building, the British captain and commanding officer Thomas Preston, requested his soldier to settle their bayonets and join the other guar outside the building. The colonists reacted be tossing snowballs and different items at the British regular, and private

    Read More

  • Townshend Act Research Paper

    503 Words  | 3 Pages

    The Townshend Acts were a series of four acts passed by the British Parliament. These Acts began June 15th and lasted through July 2nd, 1767. The British East India Company was required to sell its tea throughout London. Therefore colonists were required to pay tax per pound of tea that was sold.

    Read More

  • Davis-Bacon Act Of 2004 Dbq

    781 Words  | 4 Pages

    I will discuss the historical significates of the Davis-Bacon Act as well as the present day implications of the Construction Wage Rate requirements Statue. During the great depression the lack of representation and enormous discrimination of minorities provided an unfair advantage to white unionized workers. The Davis-Bacon Act was a direct reflection of this ideology, according to Institute for Justice, “with the specific intent of preventing non-unionized black and immigrant laborers from competing with unionized white workers for scarce jobs…” (Bullock). The Davis–Bacon Act of 1931 is named after, James J. Davis, a Senator from Pennsylvania and Representative Robert L. Bacon of Long Island, New York and was passed by Congress and signed

    Read More

  • The Sugar And Molasses Act

    82 Words  | 1 Pages

    The sugar act started in 1764. “April,5 1764... A new law passed called the Sugar and Molasses Act. Colonial merchants...were required to pay tax of six-pence…” All molasses was imported. Most of the colonist tried to buy french molasses and sugar at a cheaper price.

    Read More

  • Stamp Act Summary And Analysis

    572 Words  | 3 Pages

    Parliament’s unpopular passage of the Sugar Act and Quartering Act came with little backlash from the colonists when in comparison to the Stamp Act (Schultz, 2011, p. 69). The colonist’s profound response was (1) because the Stamp Act placed a tax on goods used by those of higher education like merchants and lawyers rather than just layman; (2) because the tax was also passed in March and did not go into effect until November of 1765, which gave colonists an ample amount of time to organize against it; and (3) because the imposed tax was to pay the salaries of colonial officials rather than to regulate trade, which was a clear undermining of the colonial self-rule and an indication that Parliament was attempting to limit colonists’ liberties (Schultz, 2011, p. 69). Themed as “no taxation without representation,” colonists convened the Stamp Act Congress in October 1765 in which they vocalized their opposition to the tax. Most colonists called for a boycott of British goods, and some organized attacks on customhouses and homes of tax collectors (History.com Staff, 2009).

    Read More

  • Mccarran-Walter Act: An Analysis

    651 Words  | 3 Pages

    In 1952 this hope materialized. Due to the Korean conflict the roles shifted and America tried to undo some of its prior offenses against the Japanese population as it became allied with Japan in the face of the threat of Communism. Thus in effect the McCarran–Walter Act struck down” race as a basis for citizenship eligibility” and “between 1952 and 1965, more than 40,000 first-generation Japanese became U.S. citizens, many after decades of waiting” (Densho). But by that point it was already too late to undo the wrongs that have been done both through the interment camps and prior restrictions; the lives of many Japanese and Japanese-Americans were already ruined. For most there was nothing to return to.

    Read More

  • How Does Damon Beres Use Ethos Pathos Logos

    974 Words  | 4 Pages

    Bill Nelson once said, “If we don’t act now to safeguard our privacy, we could all become victims of identity theft.” With the increasing amount of data that our mobile phones and tablets contain, encryption and security is becoming more vital everyday. Damon Beres, author of “What You Need To Know About Apple vs. The FBI” argues both sides as the war on privacy rights and national security continues. Although Beres uses a large amount of pathos throughout his article, he doesn’t use ethos and logos as much. When Beres does use logos and ethos though, he clearly states examples.

    Read More

  • Stamp Act Research Paper

    774 Words  | 4 Pages

    The British Parliament’s first actions that could be considered to set the stage for punitive measures is the Declaratory Act that was debated and enacted in conjunction with the repeal of the Stamp Act. The resistance to the Stamp Act was widespread and had the members of Parliament concerned with whether it was treason or the beginnings of rebellion against the empire. The decreased trade that resulted from boycotts of English goods in part contributed to a depression affecting English merchants. As a result, the new leader of the Parliament Rockingham was faced with a situation where Parliament felt it needed to assert its authority over the Colonies while finding a way to repeal the Stamp Act to reestablish the flow of trade. The resultant

    Read More

  • The Impact Of The Wheeler Howard Act

    605 Words  | 3 Pages

    In a time of great economic insecurity, the implementation of the Wheeler Howard Act of 1935, apart of what is called the Indian New Deal, transformed government policy toward Native Americans. Beyond economic reform, the Indian New Deal positively resulted in the expansion of freedoms and rights of Native Americans. Journalist Frank H. Hill documented the impact of the Indian New Deal among Indians, particularly the Navajo, in A New Pattern of Life for the Indian. Through the account, Hill mentions several aspects of the Indian New Deal which proved beneficial to the Native American community. However, it should be noted that there were some apparent flaws.

    Read More

  • The Morrill Act Analysis

    609 Words  | 3 Pages

    The end of slavery through the successful military tactics of the Union in the Civil War had the single most important impact as it pertains to education for the creation of educational opportunities for the newly freed African Americans. Prior to this, it was common knowledge that educating a slave was a criminal offense. The Morrill Act of 1862, named for Justin Smith Morrill, was designed to make education more accessible to more people of all socio-economic and social classes. Only, this Act did not take into consideration the education of black people. Due to systematic racism against this minority group, it was not until slavery was abolished that the second Morrill Act was implanted to focus on this long overlooked group.

    Read More

  • Food And Drug Act 1906

    127 Words  | 1 Pages

    The 1906 Pure Food and Drug Act prevented the manufacture, sale, or transportation of misbranded or poisonous foods, drugs, medicines and liquors, and regulated the trafficking of such items. This act was ruled by the Senate and House of Representatives in Congress, and is regulated today by the U.S. Foods and Drugs Administration today. This act was very successful in improving public health, for according to the Social Security bureau of the United States, now manufactured new drugs have to be inspected and certified by appropriate personnel. This allowed for the revision of many drugs and foods, and got rid of many drugs that used strange and unusual ingredients. This included the banning of cocaine cough drops and soothing syrups that contained

    Read More

  • Stamp Act Research Paper

    718 Words  | 3 Pages

    The Commoners and Wealth Reaction to the Stamp Act March 22, 1765 a new tax passed called the Stamp Act. The Stamp Act was to help British troops settled, I the colonies during the 7 years of war. A tax represented by a stamp on many papers,documents, and playing cards. Stamp Act was imposed by the British government and without approval of the colonial legislatures. The word spread around colonial families.

    Read More

  • Why Privacy Matters Even If You Have Nothing To Hide Analysis

    1651 Words  | 7 Pages

    Nowadays, “privacy” is becoming a popular conversation topic. Many people believe that if they do not do anything wrong in the face of technology and security, then they have nothing to hide. Professor Daniel J. Solove of George Washington University Law School, an internationally known expert in privacy law, wrote the article Why Privacy Matters Even if You Have ‘Nothing to Hide’, published in The Chronicle of Higher Education in May of 2011. Solove explains what privacy is and the value of privacy, and he insists that the ‘nothing to hide’ argument is wrong in this article. In the article, “Why Privacy Matters Even if You Have ‘Nothing to Hide’”, Daniel J. Solove uses ethos, pathos, and logos effectively by using strong sources, using

    Read More

  • Rhetorical Analysis Of The Nothing To Hide Argument By Daniel J. Solove

    541 Words  | 3 Pages

    The “Nothing-to-Hide Argument” Analyzed: In this rhetorical analysis, I will be taking a look at Daniel J. Solove’s essay “The Nothing-to-Hide Argument,” which is about privacy in the context of personal information and government data collection (Solove 734). Solove’s main argument in his essay is that the general public has a narrow perception of what privacy really is. The purpose behind his main argument is to expose the problems with the nothing-to-hide argument while presenting a way to challenge it for his target audience, government officials. Solove’s argument to his target audience is effective through his exemplary use of substance, organization, and style in his essay.

    Read More

  • Summary: The Ethical Practice Of Identity Theft

    841 Words  | 4 Pages

    The rapid proliferation of information technology has led to a significant rise in the number of people who use the internet in one way or another. With the growth in the number of persons who have an internet connection; certain individuals have begun to exploit this resource through the unethical practice of Identity theft. As more and more individuals are posting their personal information online, cybercriminals are stealing this information with the aim of assuming the victim's identity so as to either obtain financial advantage or benefits that are associated with the victim (Jewkes, 2013). The act of stealing other people's identity cannot be considered as ethical because it violates the victim's right to privacy.

    Read More

More about Gramm-Bliley Act Of 1999 (FSMA)

Open Document