Which group is explicitly included in the privacy protections of the GLBA?

Prepare for the Privacy Compliance Basics Exam with detailed flashcards and multiple-choice questions, complete with hints and explanations. Ensure you're ready to ace your exam with our comprehensive preparation resources!

The Gramm-Leach-Bliley Act (GLBA) is designed to protect the privacy of individual consumers by regulating how financial institutions handle personal information. The legislation explicitly states that individual consumers are afforded certain privacy protections, which include rules regarding the collection, disclosure, and protection of their personal financial information.

This focus on individual consumers is significant because the GLBA ensures that these individuals have rights concerning their personal data, including the ability to opt-out of having their information shared with non-affiliated third parties under certain conditions. The act requires financial institutions to provide privacy notices to consumers, outlining their practices and the choices available to the consumers regarding their personal information.

In contrast, other groups mentioned, such as business partners, commercial enterprises, and government agencies, do not receive the same level of explicit protection under the GLBA. While the act does address the information sharing between financial institutions and these groups, the primary intent of the GLBA is to safeguard the privacy interests of individual consumers, making them the focal point of the legislation's protective measures.

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