ELI5: Explain Like I'm 5

Consumer privacy

Consumer privacy is when companies respect your private information and keep it safe. Companies have information about you such as your name, phone number, address, and bank account that they keep private and don't share with anyone else. It's important that companies keep this information safe because if someone else got their hands on it, they could steal your money or do other bad things with it. To make sure this doesn't happen, companies have laws that protect your private information so that only you and the company can see it.