Financial Data Privacy Laws Languish In Congress

Law360, New York (December 22, 2006, 12:00 AM EST) -- For as long as Americans have had social security and bank account numbers, there have been agencies and institutions that have collected and stored such data. And for as long as these institutions have existed, they have experienced security breaches.

But in recent years, consumers have become more aware of these breaches and how easily their private information travels.

Increased consumer awareness, the Graham-Leach-Bliley Act and state-level regulation have encouraged banks and financial institutions to get ahead of the curve in protecting themselves against leaks and...
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