The Battle For Privacy Begins???

Consumer Reports published an article titled "The battle for 
privacy begins" in their June, 2003 issue. Wonder where they 
have been <VBG>...

In part, the article, on page 6, reads, "The Gramm-Leach-Bliley 
Act is largely responsible for making your financial life an 
open book.  Passed by Congress in 1999, it allows banks, 
insurance companies, and brokerage houses to sell one another's 
products and services.  The business affiliations that the law 
enabled also allow those institutions to share sensitive 
consumer financial information.  As a result, data previously 
held by a single company are readily available to its affiliates 
as well as to third parties who enter joint marketing 
agreements."

The article goes on to tell us what we can do, i.e., "...read 
your financial-privacy statements from insurers, stockbrokers, 
and banks, and decide whether you want to exercise your rights 
under federal law to limit the sharing of your information"
[I, like most, do not read these agreements unfortunately.]

I guess I was asleep in 1999.  I did not write to my Senator
or anyone else for that matter, protesting this legislation.  

Information that can be shared may include "...bank-account 
balances, loan-payment history, and credit-card charges, which 
could itemize your liquor and pharmacy bills."

Their web site is (www.consumerreports.org) but I have not 
checked to see if this issue is available on line.

Jay
0
Jay
6/19/2003 4:36:00 PM
grc.privacy 4590 articles. 0 followers. Follow

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