Final answer:
The Gramm-Leach-Bliley Act is a federal law that prohibits identity theft, which involves using false pretenses to obtain personal financial information.
Step-by-step explanation:
The Gramm-Leach-Bliley Act is a federal law that prohibits identity theft, which is the use of false pretenses, fraudulent statements, and impersonations, to obtain personal financial information. Identity theft occurs when someone wrongfully acquires and uses a consumer's personal identification, credit, or account information without their permission. This illegally acquired information is then used to steal a person's identity, often resulting in financial loss and damage to the victim.