Under what circumstances must banks comply with the Gramm-Leach-Bliley Act?

The Gramm-Leach-Bliley Act (GLBA) mandates that banks protect consumers' non-public personal information (NPI). This law is primarily concerned with the privacy of personal financial information that institutions collect from customers. The GLBA requires financial institutions to develop privacy policies that disclose how they gather, use, and protect consumers' information, and it obliges them to maintain the confidentiality and security of that data.

In this context, compliance with the GLBA becomes imperative specifically when a bank is handling non-public personal information. This ensures that consumers are informed about their privacy rights and the bank's policies regarding the sharing of their personal information.

While the other options presented may relate to banking activities and customer interactions, they do not directly trigger the requirements of the Gramm-Leach-Bliley Act in the same way as managing non-public personal information does.