American Land Title Association
Home  >  News Room
News Room


SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software


North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.


North Dakota Financial Privacy Law Is Not Preempted

June 29, 2001

FTC Says State's Consumer Information Laws Are Preserved

The Federal Trade Commission said today that the North Dakota financial privacy law is not preempted by the Gramm-Leach-Bliley Financial Modernization Act (GLB Act) because it is "not inconsistent" with federal law. In a letter to Gary D. Preszler, Commissioner of the North Dakota Department of Banking and Financial Institutions, the FTC said, ". . . Congress established the privacy protections in the GLB Act as a 'floor,' or minimum protection for consumer privacy, that could be exceeded by the states."

In this case, the newly amended North Dakota statute permits financial institutions operating in that state to be "free simply to comply with the federal requirement" of the GLB Act. Therefore, the state and federal laws are "not inconsistent," and the North Dakota law is preserved.

On September 12, 2000, The North Dakota Department of Banking and Financial Institutions petitioned the FTC for a determination whether its law, the North Dakota Disclosure of Customer Information law was superseded, altered, or affected by GLB, and whether state-chartered financial institutions must comply with GLB Act provisions not addressed under the North Dakota statute.

The Commission vote to issue the letter was 5-0.

Text of Commission Letter

Source: Federal Trade Commission



Print Friendly


How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
www.alta.org
service@alta.org
Copyright © 2004-2015 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment