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.

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