Banks, credit unions, mortgage lenders, investment firms, and insurance companies handle sensitive customer data every day. When computers, servers, drives, or mobile devices reach end-of-life, they still may contain account numbers, IDs, loan files, claims, and trading records. All that data must be destroyed the right way.
Under the Gramm–Leach–Bliley Act (GLBA), Fair and Accurate Credit Transactions Act (FACTA), and the FTC Safeguards Rule (revised 2022), financial institutions must develop, implement, and maintain safeguards for customer information, including secure disposal of data when it’s no longer needed.


