The U.S. Department of the Treasury today said it will be later in the week before it will be ready to unveil the financial privacy bill President Clinton announced over the weekend. The president in a Michigan speech said the legislation will be aimed at preventing banks and other financial institutions from selling information without permission from consumers. A senior administration official said the legislation would let consumers opt out for some information, but for sensitive medical information would require a consumer to opt in before information can be shared. There were some indications over the weekend that the legislation might cover other areas than financial privacy.
Copyright May 2000, Crain Communications Inc.