The banks require the federal government to block
The banking sector is to Homeland Security Director Tom Ridge and the legislature to seek assistance from the federal government to block the laws of privacy of consumers, bankers argue, is an obstacle to their efforts on the ground for terrorists.Lobbyists for the industry has been the argument that the state laws that prohibit banks to exchange consumer information without authorization, they can obstruct a law enforcement alert for potential crimes.
We would have communication problems with the criminal prosecution authorities … and it would be extremely chaotic. We need a single standard of privacy, “said David Liddle of the Financial Services Roundtable, an industry lobby.
Some government officials for not buy the argument that the continuation of state laws on exceptions sufficient for the prosecuting authorities. They suggest that banks are equipped with national security to conceal their true intention of giving free rein to gain by selling information to customers benefit.
What they want is finally making full use of the financial system, information on their customers for commercial purposes. It is the money, “said North Dakota State Rep. Jim Kasper, a Republican, wants a strengthening of his state visit in the private sphere.
The argument of national security is the latest expression in the banking sector underway for a long time, the fight against the sharing of information cutting restrictions in the legislation for the protection of consumers across the country.
A handful of countries, to allow banks to sell or share customer data with outside companies, if approved accountholders.
These “opt-in laws in countries such as Alaska, Illinois and Vermont are more difficult, as a federal law adopted recently, with financial institutions to exchange information, unless the consumers to use, pour ne pas faire.
Banking lobbyists have defeated the opt-in legislation in several states and have focused their sights on California, where Dir Democrat Gray Davis is expected that a proposal for an opt-in request if the law approval.