Privacy issue won’t go away
May 7, 2010 | federal legislation, industry | Comments (0)From the story:
Shelby, speaking at a press conference outlining Republican concerns about the financial regulatory overhaul, said that the bill violated Americans’ privacy rights by allowing the government to collect any financial information from any financial firm.
“I’m sure the ACLU – because we’ve heard from them – and others are looking at this very closely. I believe that it violates a lot of people’s privacy,” Shelby said.
Shelby added that Republicans would offer amendments that would attempt to “surgically strike” such objectionable provisions.
Republicans’ privacy concerns stem from the new information-gathering authorities think the bill would give to the federal government allowing it collect any information, including records from Automatic Teller Machines (ATM) and the addresses of depositors, from any financial institution at any time.
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