What is the role of the privacy notice regarding consumer information?

The privacy notice plays a crucial role in informing consumers about how their personal information will be collected, used, and shared by an organization. Choosing the option that highlights the specifics of sharing information with affiliates and other third parties aligns with the primary purpose of a privacy notice.

This document is essential for transparency and compliance with various privacy regulations, as it describes the practices regarding consumer data. It informs consumers about who gets access to their information, under what circumstances, and how their data may be utilized. This approach not only helps build trust with consumers but also ensures that organizations are adhering to legal obligations concerning data protection.

The other options focus on aspects like product summaries, liability limitations, and interest rate information, which fall outside the primary function of a privacy notice in terms of consumer data handling and privacy rights. Thus, they do not capture the core intent of communicating the organization’s policies regarding consumer information.