Financial companies share customers’ personal information with various third parties in order to conduct their everyday business. The types of information collected and shared depends on the product or service a customer has with L.M. Kohn & Company. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires financial firms to tell consumers how their personal information is collected, shared, and protected.
The Gramm-Leach-Bliley Act of 1999 requires each member of the financial services industry to communicate its policy to consumers at the time of establishing a customer relationship. Furthermore, the act requires annual notification to all customers.