Explanation: The GLBA, as it is commonly called based on the lead sponsors and authors of the act, is officially known as “The Financial Modernization Act of 1999.” It is specifically focused on PII as it relates to financial institutions. There are three specific components of it, covering various areas and use, on top of a general requirement that all financial institutions must provide all users and customers with a written copy of their privacy policies and practices, including with whom and for what reasons their information may be shared with other entities.