ADVISORY/Credit Card Mailings Tell of Privacy Law Changes.

Business Editors

ADVISORY...

--(BUSINESS WIRE)--May 7, 2001

TOPIC: Millions of privacy notices will be mailed with credit card bills in the
next few months, telling customers of a change in federal law that will allow
banks and other financial institutions to share what may be sensitive customer
information, according to a story by the New York Times. The notices are
required under the 1999 Gramm-Leach-Bliley Act, which removed the barriers that
prevented mergers between financial institutions, the story said. The law also
requires institutions to tell their customers how their personal information
will be used and give them the option to keep the information private -- the
apparent aim of the privacy notices, the story said. Many on both sides
reportedly have criticized the notices, though. Financial services companies in
the story said the notices cost the companies too much and are too numerous for
people to notice them. Privacy experts cited criticized the notices as too
vague and too confusing to provide appropriate information to consumers.
EXPERTS: ExpertSource can offer several highly qualified experts to comment on
this story:

Alan Elias, as chief spokesperson for Providian Financial, can talk about this major credit card provider's leadership in credit scoring methodology and technology; its strong move into the 32K chip smartcard arena; its innovative "GetSmart" personal finance marketplace on the Internet, and associated creditworthiness and personal finance issues. PR: David Gaier [e-mail]

Keith Enright joined Lucira in mid-2000 as Chief Privacy Officer. Mr. Enright has an extensive background in managing legal and policy issues relating to privacy on- and off-line. Mr. Enright is co-founder and Executive Director of PrivacyLaw.net, an online resource, portal, and deliberative forum covering privacy law and policy issues. He is the Chair of the Privacy Working Group of Computer Professionals for Social Responsibility. Mr. Enright is also a member of the American Bar Association's Computer Law Section, Communications Law Forum, Electronic Commerce, Online Privacy, and Information Security Committees. Mr. Enright speaks frequently at industry events and is often quoted by the domestic and international media on technology and privacy law issues. 781/245-4167 [e-mail]

Alan Westin has been a recognized expert in the area of privacy and data protection for more than 40 years. Alan Westin has supervised and created surveys on privacy and employment issues. He is professor emeritus of law and public policy at Columbia University and publisher of Privacy & American Business. Dr. Westin is also a consultant on privacy and data protection issues to businesses and governments. PR: Lorrie Sherwood, Executive Director [e-mail]

Prof. Newell Wright works in the marketing program at James Madison University. His expertise includes privacy and marketing. 540/568-3240

Jeff Baxter has worked in consumer banking, credit cards, and new product development for over 20 years. He is the President of Cardclues.com, an online credit card marketplace for consumers. Prior to starting CardClues.com, he was principal in a credit card consulting firm, SJ Baxter & Associates, where he consulted for leading credit card issuers and co-brand partners including Citibank, First USA, MBNA, Metris, and America Online. 410/692-2382 [e-mail]

ExpertSource cannot guarantee the immediate availability of these experts or their familiarity with this specific issue.

ExpertSource, a collaboration of Business Wire and The Round Table Group, provides academic and industry experts to the media at no charge. Journalists are encouraged to submit queries to ExpertSource when seeking experts on specific subjects. An online registration form is available at http://www.businesswire.com/expertsource.

Business Wire's Media Resource Center provides working journalists many free media services. Please visit the BW Media Resource Center at (www.businesswire.com/media) for more information.