WASHINGTON Industry representatives are worried that the third time may be the charm for tough privacy protections expected to be voted on today in the California state Assemblys Banking Committee.
Sponsored by state Sen. Jackie Speier, D-San Francisco, the bill would require financial services companies to get customers permission before sharing confidential information with third parties. It passed the state Senate June 4, but twice has been defeated by one vote in the Assembly committee. After the last defeat, industry lobbyists had figured it would not be resurrected this year. But it has come roaring back and is now being pushed by California Gov. Gray Davis.
The Assemblys Judiciary Committee would also have to approve the bill before a vote by the full chamber. The state Legislature had been expected to adjourn by July 20, but that now seems unlikely, which gives privacy advocates more time to attempt to get the bill passed.