California Privacy Law May Have Far Reaching Impact On Electronic Credit Department

Topics:
Commercial Lending
Tags:
Blakeley & Blakeley,
California,
Finance,
Financial,
Financial Accounting
Source:
Blakeley & Blakeley

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Overview: With the arrival of the Internet and sharing of a customer's financial information electronically, a customer's privacy rights to financial information is now at the forefront of legislation passed by the California legislature, and being considered at the federal level. Bill SB1386, recently adopted by the California legislature, creates a duty for companies to protect electronic personal information from being disclosed, and requires companies to notify customers when their electronic information has possibly been misused. Violation of SB1386 may be the basis of a lawsuit.

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Format: HTML | Date: Oct 2003 | Pages: 1

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