A coalition of privacy groups today urged the Obama Administration to defend California’s landmark financial privacy law against the banking industry’s legal efforts to overturn it.
"California consumers just won a huge privacy victory. The federal court ruled that California’s Financial Privacy Law give consumers the right to stop banks and other financial institutions from sharing our personal information with affiliates," Richard Holober, Executive Director of CFC.
“California consumers and the right to privacy explicit in our State Constitution lost and big business won today," said Zack Kaldveer, spokesperson for CFC. "Under this bill, an individual’s private medical prescriptions become commodities to be marketed and sold for the purpose of increasing corporate profit, not improving public health."
The California Senate rejected a bill today sponsored by drug marketing firms that would have allowed the sharing of a patient's confidential medical information among a pharmacy, third party corporations and pharmaceutical companies.
