Home > Past Releases and Reports > Privacilla.org Editor Addresses Interagency Workshop on Financial Privacy Notices
For Immediate Release
December 4, 2001
Contact: Jim Harper
Privacilla.org Editor Addresses Interagency Workshop on Financial Privacy Notices
Comments Illustrate How Muddled Privacy Debate Has Frustrated Notice to Consumers About Financial Privacy
Washington, D.C. — Jim Harper, Editor of Privacy Web site Privacilla.org, commented today at a federal interagency
public workshop entitled "Get Noticed: Effective Financial Privacy Notices." His prepared remarks, annotated with
handy hyperlinks, may be found at http://www.privacilla.org/releases/GLB_Remarks.html.
Excerpts of Harper's remarks follow:
The number one problem with the privacy issue is that the word "privacy" is used
to describe so many different concerns with the modern world.
The Gramm-Leach-Bliley notice requirements mostly have to do with a version of privacy called "freedom
from marketing." But it's not complete freedom from marketing. It's freedom from accurate marketing.
People are obviously thinking about standardizing privacy policies, and looking to
nutrition labels as a sort of guide. If privacy under Gramm-Leach-Bliley is going the direction of
healthy eating, I think we ought to opt out.
Gramm-Leach-Bliley moved us away from the system that today is pitting companies in other industries
against each other to deliver privacy on the terms consumers want it. Financial services companies
are obviously spending their resources on compliance rather than competition, and consumers are worse off for it.
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