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The American Bankers Association, the Financial Services Roundtable and the Consumer Bankers Association have gone to the Court of Appeals to try to stop a California law that restricts on use of customer information. Members of these three trade association share customer information among their affiliates.
Under the California Financial Information Privacy Act, they would have to either stop sharing among affiliates that are not in the same line of business (for example, a bank affiliate couldn't share with an insurance affiliate), or submit to the law's opt-out requirement. Under that rule, customers have the right to block, or opt out of, the sharing of information among affiliates.
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