Which of the following laws specifically addresses consumer privacy in financial institutions?

The Gramm-Leach-Bliley Act (GLBA) specifically addresses consumer privacy in financial institutions by establishing requirements for the protection of consumers' personal financial information. It mandates that financial institutions ensure the confidentiality and security of sensitive data, implement privacy policies, and notify consumers about their information-sharing practices. The GLBA also requires institutions to offer consumers the option to opt-out of having their personal information shared with non-affiliated third parties, emphasizing the importance of consumer control over personal data. This regulatory framework is essential in safeguarding how financial institutions handle sensitive consumer information, thus promoting consumer trust and privacy.

In contrast, HIPAA focuses on the privacy and security of health information, while the Sarbanes-Oxley Act primarily addresses financial disclosures and corporate governance in publicly traded companies. The California Consumer Privacy Act (CCPA) pertains to broader consumer privacy rights and applies to various sectors beyond finance, reflecting state-level privacy regulations rather than those specifically targeting financial institutions like the GLBA.