Final answer:
The Gramm-Leach-Bliley Act includes the Safeguards Rule and Financial Privacy Rule to protect customer data and privacy in the financial industry. Financial institutions such as banks are required to develop information security programs and regulate the collection and disclosure of personal information.
Step-by-step explanation:
The Gramm-Leach-Bliley Act consists of several provisions aimed at protecting consumer data and privacy in the financial industry. The Safeguards Rule and Financial Privacy Rule are two key provisions under this act.
The Safeguards Rule requires financial institutions, including banks, to develop and implement a comprehensive information security program to protect customer information. This includes conducting risk assessments, implementing safeguards such as encryption and access controls, and regularly monitoring and testing the effectiveness of the program.
The Financial Privacy Rule, on the other hand, regulates the collection and disclosure of nonpublic personal information by financial institutions. It requires institutions to provide privacy notices to customers, give them the option to opt-out of certain information sharing, and maintain appropriate safeguards to protect the information.
Based on this information, the correct answer would be B) Financial institutions.