Which law addresses the consequences for a consumer who fails to opt out of having their private information shared?

The Graham, Leach, Bliley Act (GLBA) is the law that specifically addresses the sharing of consumers' private financial information by financial institutions and the consequences for consumers who fail to opt out of such sharing. Under the GLBA, financial institutions are required to provide consumers with a privacy notice that outlines how their information will be shared and offers them the ability to opt out of having their information shared with non-affiliated third parties.

The act is designed to protect consumers' personal financial information from being disclosed without their consent. When a consumer does not take action to opt out, they consent to the sharing of their information, which is a key aspect covered under GLBA compliance.

Other laws listed, like the Fair Housing Act and the Truth in Lending Act, do cover important aspects of fair lending and consumer credit disclosures, but they do not focus specifically on the sharing of private consumer information in the same manner as the GLBA. The Housing and Urban Development Act is primarily concerned with housing policies, including assistance for low-income families, rather than the specifics of consumer privacy and data sharing. Thus, the Graham, Leach, Bliley Act is the appropriate choice concerning the consequences for consumers who do not opt out of information sharing.