Activist: Privacy Provisions a Big Loophole American Banker (10/18/00) Vol. 104, No. 41 p.10; Lee, W. A.
Bankers attending the Consumer Bankers Association's
2000 Privacy Conference got an earful from leading consumer
activist Edmund Mierwinski, who said banks and their lobbyists
are to blame for diluting privacy components in the
Gramm-Leach-Bliley Act. Specifically, Mierwinski, the consumer
program director at the U.S. Public Interest Research Group,
accused banks of side-stepping fair information practices by
refusing to relinquish the option to share consumers' financial
information with affiliate companies. He further chided lenders
for the "shoddy" products currently offered to consumers.