Clinton Signs Bank Bill, Calls for Stricter Privacy Provisions
Clinton said he did "not believe that the privacy protections go far enough" and said that he would work with the Treasury to develop more stringent privacy proposals to introduce next year.
"Without restraining the economic potential of new business arrangements, I want to make sure every family has meaningful choices about how their personal information is shared within corporate conglomerates,'" Clinton said.
Meanwhile, Reps. Edward J. Markey, D-MA, and Joe Barton, R-TX, last week introduced the "Consumer's Right to Privacy Act" seeking to change the financial reform bill to mandate an opt-in scenario in which consumers would have to give their permission before their information could be shared. It also has other provisions to strengthen the privacy protections for consumers. Similar legislation also was introduced in the Senate by Sens. Richard Shelby, R-AL, and Richard Bryan, D-NV.