True, the act was passed years ago, but the recent court decision which resulted in the GLB enhancement to the act has changed things dramatically. Soon means now! We have gov't auditors and the OTS in our offices several times each year to make sure we comply. So if he's thinking about approacing the owner about this Yenko, he better do it soon or the result could be an angry owner wondering how he got the information.
Here's some more information on GLB.
GLB Information