Attorney General No.
SA2003RF0006
Secretary of State No.
977
Description
CONSUMER INFORMATION PRIVACY. INITIATIVE STATUTE. Prohibits entities engaged in consumer financial-related activities defined in federal law, from disclosing information about a California consumer without the consumer's informed consent. Financial related activities include: lending; exchanging; transferring; investing for others, or safeguarding money or securities; insuring; underwriting; providing financial or investment advice. Prohibition covers disclosure to business affiliates and third parties. Exceptions include: processing transactions requested by consumer, detecting and preventing fraud and enforcing laws. Doubles civil penalties for violations that result in use of information by a person to falsely obtain credit, goods, services or medical information in another's name. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: This measure would result in state and local government enforcement costs potentially over $1 million annually, partially offset by increased civil penalty revenues. Depending on implementation issues, the measure could also result in some state and local compliance costs and some revenue reductions.
Proponents
Michelle Curran, Lupe de la Cruz III, clo James C. Harrison, Esq., Remcho, Johansen & , Purcell, 201 Dolores Avenue, San Leandro, CA 94577, (510) 346-6200
Date
5-2-2003
Document Type
Initiative
Qualified
Failed to Qualify
Recommended Citation
CONSUMER INFORMATION PRIVACY. INITIATIVE STATUTE. California Initiative 977 (2003).
https://repository.uclawsf.edu/ca_ballot_inits/1134