California Bankers Association Responds to Court Decision on Local Privacy Ordinances.Business Editors SACRAMENTO, Calif.--(BUSINESS WIRE)--July 29, 2003 The following statement is from the California Bankers Association (CBA See Capital Builder Account. ) regarding the U.S. District Court for the Northern District of California's decision on local privacy ordinances in California: "The California Bankers Association (CBA) believes that the decision by the U.S. District Court vindicates the industry's position regarding local privacy ordinances here in California. The decision, based solely on consideration of the Fair Credit Reporting Act The Fair Credit Reporting Act (FCRA) is legislation embodied in title VI of the Consumer Credit Protection Act (15 U.S.C.A. § 1681 et seq. [1968]), which was enacted by Congress in 1970 to ensure that reporting activities relating to various consumer transactions are conducted in a (FCRA FCRA Fair Credit Reporting Act (US) FCRA Foreign Contribution Regulation Act FCRA Federal Credit Reform Act FCRA Florida Civil Rights Act FCRA Florida Court Reporters Association FCRA Fabric Care Research Association ), confirms that municipalities do not have the authority to set privacy standards for information shared between financial institutions. This is the very thing that CBA and other members of California's financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. community have been telling local and statewide policy-makers for the past several years. "The only issue unresolved by this decision is how financial institutions may share information with unaffiliated third-parties. Based on the Court's decision, it is unclear whether or not smaller institutions using third parties will be able to continue to serve their customers' needs. The Court's decision seems to suggest that more uniformity, not less, is required when it comes to laws governing the sharing of information between financial institutions in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . At this time, we do not know what impact this decision will have on other, ongoing negotiations in Sacramento and remain hopeful that both consumers and business can have their privacy concerns addressed through legislative solutions." Information about CBA Established more than 110 years ago, the California Bankers Association (CBA) is one of the largest state banking trade associations in the country. CBA leads the way in developing relevant educational and legislative solutions to some of California's more pressing financial and banking issues, including financial privacy, predatory predatory pertaining to predator. predatory behavior the hunting of birds, mice and small reptiles by cats and the hunting and herding behavior of dogs, often facilitated in a pack. lending, usage fees, and financial elder abuse Elder Abuse Definition Elder abuse is a general term used to describe harmful acts toward an elderly adult, such as physical abuse, sexual abuse, emotional or psychological abuse, financial exploitation, and neglect, including self-neglect. . CBA's membership includes more than 300 of California's commercial, industrial and community banks and savings associations. For further information, visit www.calbankers.com or contact Anissa Yates at 916/441-7377. |
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