The Gramm-Leach-Bliley Act (GLBA), enacted in 1999, is a U.S. law that allows financial institutions to consolidate and offer a wider range of services. It repealed parts of the Glass-Steagall Act, which had previously separated commercial banking, investment banking, and insurance services. The GLBA aims to promote competition and efficiency in the financial services industry. A key component of the GLBA is the requirement for financial institutions to protect consumers' personal information. It mandates that these institutions provide privacy notices to customers, explaining how their data is collected, used, and shared. This helps ensure that consumers are informed about their privacy rights.