Consumer Privacy Campaign Hits The 100,000 Signature Mark

CALIFORNIANS for PRIVACY NOW

March 2004 Ballot Measure Aims to Give Consumers Control
Of Their Personal Financial Information

SAN FRANCISCO, CA -- The campaign to win Californians the strongest financial privacy protections in the country reached an important milestone today. Californians for Privacy Now announced that it has already collected 100,000 signatures from registered voters to qualify a privacy measure for the March 2004 ballot.

"Our campaign to win strong financial privacy protection is off to a strong start,"said Shelley Curran, Policy Analyst for Consumers Union's West Coast Regional Office. "If lawmakers fail to pass meaningful privacy protection, we look forward to bringing this measure directly to the voters so they can settle this issue once and for all."

In order to qualify the measure for the March 2004 election, the campaign must collect at least 373,816 valid signatures of registered California voters by mid-August. Approximately 1,000 signature gatherers are circulating the consumer privacy ballot measure petition across the state.

If passed, the initiative will require financial institutions to obtain a consumer's explicit consent before selling or sharing their personal information with affiliates or third party companies for any purpose other than to complete a transaction initiated by the consumer. Current weak privacy laws offer consumers very little to control over how their personal information is used by financial institutions and leave consumers vulnerable to identity theft, aggressive marketing practices and fraud.

"Citizens throughout the state are eager to sign our petitions to support the ballot measure campaign," said Chris Larsen, Chairman and CEO of E-LOAN. "Californians want to decide for themselves whether banks and other financial institutions can sell or share their private financial information. Our ballot measure gives them the control they want and deserve."

You can download a copy of the ballot measure petition and learn more about the initiative at: www.californiaprivacy.org. The proposed ballot measure is supported by a coalition of organizations, including AARP, CalPIRG, Consumer Federation of California, Consumers Union, E-LOAN, Privacy Rights Clearinghouse, and American Civil Liberties Union.