Comments Submitted to the Internal Revenue Service: Disclosure and Use of Tax Preparation Data Notice 2005-93 and REG-137243-02

At no time is one's expectation of privacy greater than with tax preparation. The proposed rules address privacy concerns in some important ways by requiring consumer consent where none was previously required. At the same time, the rules open the door for far more insidious privacy invasions by allowing tax return information to be used for marketing and shared by preparers with "any person."

Financial Privacy: The Shortcomings of the Federal Financial Services Modernization Act

The new federal law, the Financial Services Modernization Act, enables three industries to affiliate under one corporate roof -- banking, insurance, and securities. The Act requires that banks and financial services provide an "opt-out" for customers to restrict the sale of personal information to third parties. But it gives no ability for customers to restrict the sharing of data between and among affiliates.

Want to Buy a $37 Soda?

Pay with a debit card and that refreshing soda on a hot day may give your wallet chills. Because of the way that most banks process debit card transactions, a $2.00 soda can generate $35 in bank fees. In this alert, we’ll highlight basic steps consumers should take to avoid the pernicious cycle of overdrafts and bank fees

Financial Literacy and Education Campaign Strategies

Financial literacy should start early. Fundamental concepts such as the need for savings should be started in elementary school and be carried through the educational process.

Unfortunately, dysfunctional concepts such as “easy credit” are often instilled as college-age students are lured with multiple credit card offers and as television advertisements portray “the good life” as being fueled with credit card accounts. With the average household credit card indebtedness estimated at $9,000, these messages need to be countered early on with education about the responsible uses of credit.

San Mateo Co. (California) Board of Supervisors Unanimously Adopts Financial Information Privacy Ordinance

Redwood City - The Board of Supervisors unanimously adopted an ordinance today to protect consumers' financial information privacy. With this ordinance, San Mateo County has become the first jurisdiction in California to provide consumers privacy protections in excess of those found in federal law, Gramm-Leach-Bliley Act. This ordinance would require financial institutions to ask for and receive consumerís permission before disclosing consumerís confidential information to third parties.

Who Is Using Your Checkbook? FDIC Warns About

While many consumers are scrambling to reduce their risk of identity theft, one business appears to be making it easier than ever to forge checks. allows customers to create checks without verifying the account holder's identity, according to authorities.

Privacy Today: A Review of Current Issues

The purpose of this report is to highlight and summarize key privacy issues affecting consumers today and tomorrow. Readers who want to explore issues in depth should visit the Web sites of government agencies, public interest groups, industry associations, and companies. A list of public interest groups that are working on these issues is provided at the end of the report.

Phishing: A Real-Life Experiment with Troubling Results

Last week I received a Bank of America phishing email. Nothing out of the ordinary in that. If I have a spare moment, I usually look to see if the phishing site is still up, then do a DNS lookup and blast off an email to let the site owner know of the scam.

Well, last week's phishing was particularly sophisticated.


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