The main purpose of the Gramm-Leach-Bliley Act is:
A. Consumer privacy protection.
This act, also known as the GLBA, was enacted to enhance consumer privacy and data protection. It requires financial institutions to explain their information-sharing practices to customers and to safeguard sensitive data. By promoting transparency and establishing guidelines for the handling of personal information, the GLBA aims to protect consumers' privacy rights in the financial sector.
In summary, the primary goal of the Gramm-Leach-Bliley Act is to ensure that consumers' personal and financial information is handled responsibly and securely by financial institutions, thereby enhancing privacy protection for individuals.
