When do GLBA security breach notices apply?

The correct choice addresses the scope of the Gramm-Leach-Bliley Act (GLBA) in relation to security breach notices. Under GLBA, financial institutions are required to notify consumers if there has been a breach of their personal information, which emphasizes the protection of consumer accounts. This act specifically emphasizes the safeguarding of nonpublic personal information related to consumers, making it vital for entities to alert consumers if their data has potentially been compromised.

While the other choices suggest limitations or exclusions regarding the types of accounts affected, they do not capture the comprehensive nature of GLBA's coverage. The law’s primary focus is on consumer accounts, indicating that notifications are a requirement when breaches occur where consumer data is at stake. Thus, the emphasis on consumer accounts is an essential element of compliance under the GLBA.