reform legislation, Senate Banking Committee Chairman Phil Gramm said Monday that privacy protections may be a necessary part of the bill.

Speaking at a National Association of Federal Credit Unions conference here, the Texas Republican said that forcing banks to disclose how they handle confidential data is the best way to protect customer privacy. He said such a law would enable consumers to consider the quality of privacy policies when choosing financial institutions. "I don't have to do banking with you if I don't like your policy," Sen. Gramm said.

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