02.14.19
Senators Seek Feedback on Consumer Privacy Controls
by: Melanie Waddell
Senate Banking Committee members Mike Crapo (R-ID) and Sherrod Brown (D-OH) on Wednesday called for public feedback on ways to protect consumers’ financial information in order to help inform potential privacy legislation in the new Congress. The lawmakers said “the collection, use, and protection of personally identifiable information and other sensitive information by financial regulators and private financial companies” deserves close scrutiny. The lawmakers are asking relevant parties how legislation, regulation, or best practices could give consumers more control over and enhance the protection of their financial data, as well as ensure that consumers are notified of breaches in a timely and consistent manner.
Read the full article on Think Advisor