Financial Privacy

OECD reaffirms its support for the 1980 OECD principles on privacy, or “Fair Information Practices”

OECD | Fair Information Practices — At a key meeting of the OECD on the future of the Internet economy, the OECD Secretary General Angel Gurria reaffirmed support of the 1980 OECD Privacy Principles. Also, Secretary General Angel Gurria expressed support for formalizing the participation of civil society in OECD going forward and for paying more attention to information security and identity theft problems. Secretary General Gurria noted that “A more decentralised, networked approach to policy formulation for the Internet Economy that includes the active participation of stakeholders needs to be the norm.” Many parts of the recent OECD meeting may be viewed online.

World Privacy Forum, NCLC, and Consumer’s Union file extensive comments regarding accuracy of credit reports

Financial privacy / credit reports — The NCLC, Consumer’s Union, and the World Privacy Forum filed extensive joint comments today regarding the proposed rulemaking, Procedures to Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies under Section 312 of the Fair and Accurate Credit Transactions Act. The results of the proposed rulemaking will have a significant impact on how the accuracy of credit reports is defined for consumers, and will have a substantive influence over how consumers may handle credit report disputes directly with those who furnish information for the reports.