Consumer groups concerned about financial inquiry into their groups say the practice is illegal, and that the FTC needs to begin considering the privacy implications of monitoring the financial statements of millions of Americans

Consumer groups concerned about financial inquiry into their groups say the practice is illegal, and that the FTC needs to begin considering the privacy implications of monitoring the financial statements of millions of Americans. The organizations fear that a similar law could undermine the financial포항출장마사지 privacy of consumers and their financial choices by requiring corporations and individuals to reveal details about how they earn income, store accounts, earn fees, track consumer spending, manage money or sell services.

According to the Consumer Financial Protection Bureau강릉출장마사지, there are some companies that conduct financial transactions in ways that would violate the Financial Services Modernization Act. In the past, the government has prohibited such practices under the CFPB’s Privacy Rule.

A coalition of consumer organizations is urging the FTC to launch a new investigatio전주안마n into financial institutions under the Financial Services Modernization Act, which they say is necessary to protect customers.

“Financial institutions must be held accountable for their compliance with rules prohibiting direct and indirect collection of information about customers’ financial health,” the organizations said in a Sept. 21 press release. “These rules are vital to prevent abuses and hold those who abuse them accountable.”

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