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Article: Legislators, Bankers Spar On Internet Privacy Law.(financial privacy law in cyberspace)
- Article from:
- American Banker
- Article date:
- September 19, 1997
- Author:
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Banking officials clashed with government representatives Thursday over the need for financial privacy laws in cyberspace.
Maintaining a united front at a House Banking subcommittee hearing, bank lobbyists set forth eight privacy principles adopted last week by four national banking trade groups.
The guidelines-which include giving customers the option to prevent disclosures of personal information and limiting corporate employees' access to such data-were Exhibit A in the case that banks can responsibly police themselves.
"Few consumers would patronize a bank that failed to provide an adequate level of privacy," said Marcia Z. Sullivan, government ...