Thursday, July 2, 2009

Bank clients' privacy shield survives challenge

A California law that lets customers keep banks from sharing information with affiliated companies about their savings accounts and buying habits survived a final legal challenge Monday. Without comment, the U.S. Supreme Court denied a hearing to the American Bankers Association.

The California privacy law, the broadest of its kind in the nation, allows customers to veto a bank's attempt to share certain types of information with affiliated companies.

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