Which legislation requires banks to share their privacy policies with customers?

The Gramm-Leach-Bliley Act (GLBA) is the correct answer because it explicitly requires financial institutions, including banks, to provide their privacy policies to customers. This legislation emphasizes consumer rights regarding the sharing of personal financial information and mandates that institutions disclose how they collect, use, and protect sensitive data. Under GLBA, financial institutions must provide a notice of their privacy policies at the time of establishing a customer relationship and annually thereafter, ensuring that consumers are informed about their privacy practices and choices regarding their data.

By fostering transparency, the GLBA aims to enhance consumer trust and provide individuals with greater control over their personal financial information. The act also established several safeguards to protect consumer data from unauthorized access and disclosure, which reinforces the importance of these privacy policies.