Financial Privacy Bill Advances

The California State Assembly overwhelmingly approved a bill Monday that will impose what could be the toughest financial privacy standards in the nation, barring companies from sharing all sorts of personal data from individuals’ phone numbers to their bank balances.

The bill, authored by State Sen. Jackie Speier (D-San Francisco), requires insurance companies, banks and other businesses to get customer permission before sharing or selling personal data such as bank balances or credit card activity. [Wired News]

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