Which act sets standards for non-public personal information disclosure by credit unions?

The Gramm-Leach-Bliley Act is the appropriate choice as it specifically addresses the requirement for financial institutions, including credit unions, to establish privacy policies that govern the disclosure of non-public personal information. This act mandates that institutions provide clear privacy notices to their customers, offering transparency regarding the information collected and how it is shared or disclosed.

The importance of this act lies in its aim to protect consumer privacy, which aligns with the broader goal of maintaining trust in financial systems. It requires credit unions to implement measures to safeguard consumers' personal data and grants them the right to opt-out of certain information-sharing practices, reinforcing the idea of consent and privacy in financial transactions.

The other options contribute to consumer protection and lending practices but do not specifically focus on the standards for non-public personal information disclosure. For example, the Truth in Lending Act and the Equal Credit Opportunity Act primarily deal with the transparency and fairness of credit terms and ensuring equality in lending. Meanwhile, the Fair Credit Reporting Act emphasizes the accuracy of information in consumer credit reports rather than the rules governing the privacy of personal data held by institutions.