Mon, Mar 27, 2000 4:21 PM
Subject: Gramm-Leach-Bliley Act Privacy rule, 16 CFR Part 313 - Comment
I am writing to express my concern with the proposed regulations to implement Title V of this act. It was my impression that the clear intent of Congress was to provide an opportunity for customers of financial institutions to "opt out" of sharing their personal financial information with non-affiliates of the institutions. The statute provides protection for financial information - not mere names and addresses. If all information available to a financial institution is described as "non-public personal information", then please describe for me what is meant by "public"? Congress offered a destinction by describing finanacial information. I believe the Act provides opt-out of information regarding credit history, employment and financial assets. But, in my opinion, name, address and phone number should not be classified as non-public.
If this information is deemed "non'public personal" only wrong doers and criminals will benefit and the law abiding consumers will have lost again. I urge you and your agency to define non-public personal information in the manner that Congress clearly intended.