New privacy rules could mean headaches for financial services IT - Computerworld: "A ballot initiative and a judge's ruling may reach beyond California
Story by Jaikumar Vijayan
AUGUST 11, 2003 ( COMPUTERWORLD ) - A consumer-privacy-related ballot initiative by a political group in California could complicate matters for financial services companies that are already scrambling to comply with other regional and federal privacy mandates.
And just like the recently instituted California state privacy law SB 1386 (see story), the proposed ballot measure will have a nationwide reach, privacy experts said.
A group called Californians for Privacy Now on July 30 announced that it had collected more than 550,000 signatures supporting a ballot initiative that would require financial services companies to get explicit opt-in permissions from consumers before sharing their personal information with third parties. "
