Borrowers should understand their rights to financial privacy and should also realize applying for a payday loan should not compromise these rights. The Gramm- Leach-Bliley Act of 1999 provides an increased level of financial privacy. This act gives the client of a banking institution the ability to place limitations on the information the bank can share with others. However, in many cases the client has to be vigilant to exercise these rights. Carefully reading any information sent to you from your financial institution will help you determine how the financial institution shares information. Once this information is understood, the client may request limitations on the way in which the information is shared.

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