STUDIES: CONSUMERS WANT BETTER PRIVACY NOTIFICATION

Easily Understandable Forms, Language Sought

By Published on .

Most Popular
WASHINGTON (AdAge.com) -- As several federal agencied prepare to meet Tuesday to debate the effectiveness of privacy notices sent out by banks, insurance and credit companies this year, several studies are being released today calling for changes.

The Privacy Leadership Initiative, which includes some major corporations and business associations, today released two studies suggesting that the existing privacy notices that congress mandated for financial services companies in the Gramm-Leach-Bliley Act are a mess.

One study,

Related Stories:
FTC CHAIR NIXES NEW PRIVACY LAWS
Muris Says Better Enforcement of Current Rules Needed
conducted by Harris Interactive, reported that while 56% of consumers consider privacy notices "very important" and more than two-thirds say they want to know if personal information is going to be shared and how to remove their information, they say the current notices are hard to read or understand.

The study suggested that consumers want a set of easily understandable forms for notices, akin to the language food products use to disclose ingredient information.

A second study conducted by Bentley College that focused on the Web said most consumers don't find existing privacy notices useful.

USAction, a national coalition of social service groups, released its own report today grading privacy notices sent out by 15 banks. The coalition said none of the banks got better than a "C."

In this article: