The National Association of Attorneys General blasts the financial reform legislation in a draft of a letter to House and Senate negotiators, saying the privacy protections and other consumer safeguards in the legislation would undermine tougher state laws.

The draft letter, which circulated among lobbyists and others last week, reads in part: "These provisions will have the effect of preempting state charities and consumer protection laws with regard to insurance companies within a state, and will not provide adequate protection for private financial and medical records.

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