WASHINGTON - The California Assembly Judiciary Committee was scheduled to vote late Tuesday on a privacy bill the financial services industry has been lobbying hard to halt.
The measure, which passed the state Senate in June, would require financial companies in California to get explicit customer permission - an "opt-in" - to transfer confidential information to third parties, and to give customers an opportunity to block - or "opt out" of - the sharing of that information with affiliates.
The panel was considering a number of pro-consumer amendments. One would prohibit financial firms from denying service to customers who do not want their data shared.
Another would provide a model notice - modeled after one American Express has sent out to comply with the federal Gramm-Leach-Bliley Act - for companies to send to customers describing their privacy policies.
After the Judiciary Committee voted on the bill, it would go to the Assembly Appropriations Committee and then to the full Assembly, where it is expected to face an all-out battle.
