The Motley Fool notes that Congress’ recent overhaul of the Fair Credit Reporting Act, and especially its “No Credit Report Left Behind” provision, is yet another federal override of tougher state laws, such as California’s, where a new state law prohibited banks, insurance companies, and others from sharing their customers’ personal information.
On another front, Ryan Singel at Wired.com reports on a Supreme Court case over whether the feds should reimburse individuals whose financial data has been disclosed illegally, as is required of private firms--even if no harm can be proven. This is yet another case of government activity being held to a much lower standard than market activity.
For more on this issue, see David Burton’s “Financial Privacy and Individual Liberty”.
