The Privacy Act of 1974 is the legislation that specifically outlines the responsibilities of federal agencies in maintaining the privacy of individual records. This act was established to regulate how personal information is collected, used, and shared by federal agencies. It requires these agencies to provide individuals with access to their records, establish safeguards to protect the privacy of these records, and ensure transparency in how data is handled.
The act ensures that individuals have knowledge of what information is collected about them and allows them to access and request corrections to their records if necessary. By holding federal agencies accountable for the management of personal data, the Privacy Act plays a crucial role in protecting individual privacy rights in the U.S.
The other legislation mentioned focuses on different aspects of information and privacy management. For instance, the Freedom of Information Act pertains to public access to government records rather than individual privacy. The Federal Information Security Management Act addresses the security of federal information systems rather than the privacy of individual records. Meanwhile, the Gramm-Leach-Bliley Act concerns financial institutions and their obligations regarding consumer information. Thus, the Privacy Act of 1974 is indeed the correct choice as it directly relates to the issue of maintaining individual records within federal agencies.