After the savings and loans crisis of the 1980s, the U.S Congress passed FIRREA to enable financial regulators to levy penalties up to $5,000,000 for failure to comply with regulations. These penalties can be levied if a Financial institution fails to comply with the information privacy requirements contained in GLBA.
Link to text of law: Financial Institutions Reform, Recovery, and Enforcement Act of 1989
Acronym: FIRREA
Associated law(s): Gramm-Leach-Bliley Act