Financial Services Industry
Industry: Email Alert RSS FeedSenate Committee approves online privacy bill. (Capital Beat).
Claims, July, 2002
Legislation that would pre-empt all state statutes and regulations related to Internet privacy has been sent to the Senate floor. The bill, sponsored by Senate Commerce Committee Chairman Emest F. Hollings CD-S.C.) would affect personal information collected online and set federal standards for the protection of that information.
Insurance trade groups have expressed opposition to the bill, saying that it holds firms conducting their business online to stricter standards. "Senator Hollings is reinventing the wheel," said Kenneth Schloman, Washington counsel for the Alliance of American Insurers. "His bill would overturn the privacy constraints in Gramm-Leach-Bliley and the Health Insurance Portability and Accountability Act before we have sufficient...
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