Banks sell your secrets
Article Abstract:
Most large national banks in the US are selling customer information to marketing companies. Banks produce millions of dollars in revenue by supplying third parties with information on millions of customers, including names and addresses, Social Security numbers, credit card numbers, account balances and payment behavior scores. Banks usually get 20% to 25% of the revenue generated by the marketer from the customers. As a result, consumer protection advocates are lobbying for more regulations that woud boost consumers' rights to refuse the sale of their financial details.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
House OK's bill expanding credit unions
Article Abstract:
The US Senate passed a legislation in the last week of July 1998 that seeks to increase the coverage of credit unions. The move, which is expected to be signed into law by President Clinton, contains provisions that include the acceptance as members of firms with 3,000 employees or lower and the continued membership of firms with over 3,000 workers provided they were members before the signing of the new law. The new law has been hailed by consumer advocates as a victory for consumers in need of an alternative to banks.
Comment:
The US Senate passed a legislation in the last week of 7/98 that seeks to increase the coverage of credit unions
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
House cracks down on debtors
Article Abstract:
The US House of Representatives on Mar 1, 2001 voted 309-108 in favor of a bill that will force more bankrupt people to repay debts. In praising the House for passing the bill, banking and creditor groups said the bill is necessary to prevent consumers from abusing the present system. However, a broad coalition of women's groups, labor unions, civil rights organizations and consumer advocates has criticized the bill as pro- creditor.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Regulators to start Intel lawsuit today. House passes bill protecting Net copyrights
- Abstracts: 178 Boston Markets close. Jumpin' jelly! Doughnuts dominate dining growth. Disney orders McDonald's burger joint for new park
- Abstracts: Ottawa plans to scatter seed money for startups. Rural companies hungry for high-speed Internet. Startups sweat for cash
- Abstracts: RIM reaps more BlackBerry users. While user's away, computer's in play. Idle computer power put to work
- Abstracts: Thinking outside the mailbox. Bell Atlantic vet calls up retirement. Net's next phase will weave through your life