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