Which law focuses specifically on financial privacy and customer information?

The Gramm-Leach-Bliley Act (GLBA) is specifically designed to address financial privacy and the protection of customer information. This law requires financial institutions to disclose their privacy policies and practices to consumers, explaining how they collect, share, and protect personal information. The GLBA mandates that institutions implement measures to safeguard sensitive data and allows consumers to opt-out of certain information-sharing practices.

This focus on privacy ensures that consumers are informed about their rights regarding their financial information and have some level of control over who has access to their data. The GLBA's significance lies in its role in establishing essential protections in the increasingly interconnected world of finance, where personal data sharing is prevalent.

In contrast, the other laws mentioned pertain to different aspects of financial regulation and consumer protection. For example, the Fair Credit Reporting Act (FCRA) focuses on regulating consumer credit reporting agencies and ensuring the accuracy and privacy of information in credit reports, rather than addressing broader issues of financial privacy. The Home Mortgage Disclosure Act (HMDA) is aimed at providing transparency in mortgage lending practices to ensure compliance with fair lending laws, and the Equal Credit Opportunity Act (ECOA) prohibits discrimination in credit transactions but does not specifically address privacy concerns.