The Gramm-Leach Bliley Act of 1999 primarily protects what aspect of consumers?

The Gramm-Leach Bliley Act of 1999 is primarily focused on the privacy rights of consumers in relation to financial services. This legislation mandates that financial institutions establish privacy policies and practices that protect consumers' personal financial information. It requires institutions to inform consumers about their disclosures of nonpublic personal information and gives consumers the right to opt-out of having their information shared with non-affiliated third parties.

By prioritizing privacy rights, the Act aims to enhance consumer trust in financial institutions and their handling of sensitive financial data. It obligates institutions to safeguard this information and provides a framework for consumers to understand their privacy rights related to their financial data, thereby addressing concerns about privacy in financial transactions.