AIA Denounces Calif. Privacy Bill
NU Online News Service, March 5, 12:55 p.m.EST?Some California lawmakers think a certain privacy billwould protect consumers from intrusive information-sharing amongfinancial instutions. A prominent insurer trade group, however,believes the bill would in fact limit consumer choice and increaseprices.
The California Senate has approved a measure that would createan "opt-in" system for the sharing of consumer information amongnon-affiliated financial institutions (including insurers). Thebill, S.B. 1, provides consumers an "opt-out" system forinformation sharing among affiliated financial institutions.
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