Which act mandates that organizations safeguard consumer financial information?

The Gramm-Leach-Bliley Act (GLBA) is the act that mandates organizations to safeguard consumer financial information. This legislation was enacted in 1999 and primarily aims to protect consumers' personal financial information held by financial institutions. Under the GLBA, financial institutions are required to implement measures to ensure the confidentiality and security of consumer data, notably through the establishment of privacy policies and practices, often referred to as the "privacy rule."

Organizations are required to provide consumers with a clear explanation of their information-sharing practices and must safeguard their financial information against unauthorized access and exploitation. The GLBA’s focus on consumer protection ensures that financial institutions take reasonable actions to secure sensitive financial information, thereby fostering consumer trust in the financial system.

In contrast, the other acts mentioned serve different purposes: The Data Protection Act generally focuses on a wide array of personal data protection beyond financial information, the Cybersecurity Information Sharing Act promotes the sharing of cybersecurity threat information between organizations and the federal government, and the Federal Information Security Management Act deals primarily with the security of federal information systems.