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Privacy, Consumer Credit, and the Regulation of Personal Information

  • Chapter
The Impact of Public Policy on Consumer Credit

Abstract

The open flow of information that has for so long been the hallmark of U.S. markets and society is under attack as never before. The primary source of that attack is not the government, although government agencies at all levels are beginning to join the fray, but rather the public—the primary beneficiaries of the free flow of information. In consistently astounding numbers, the public reports that it is worried about privacy, it believes privacy is threatened as much by business activities as by governmental intrusion, it does not trust American business (or the government, for that matter) to protect its privacy, and, as a result, it believes that each individual should have the opportunity and the legal authority to exercise greater control over data about him or her. Prodded by privacy advocates, government officials, and the media—once considered the champions of the free flow of information—public angst is manifesting itself around the country in protests, op-eds, lawsuits, legislation, regulations, investigations, settlements, commissions, and literally thousands of conferences, books, and articles. Privacy may be the great uniting force of the 21st Century. Already it has brought together Republicans and Democrats, state and federal officials, Richard Shelby (R-AL) and Ralph Nader, Sean Penn and Michael J. Fox, the Eagle Forum and the ACLU, Phyllis Schlafly and William Safire—could there be any greater evidence of the power of the “privacy” rallying cry?

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Cate, F.H. (2002). Privacy, Consumer Credit, and the Regulation of Personal Information. In: Durkin, T.A., Staten, M.E. (eds) The Impact of Public Policy on Consumer Credit. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-1415-2_9

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  • DOI: https://doi.org/10.1007/978-1-4615-1415-2_9

  • Publisher Name: Springer, Boston, MA

  • Print ISBN: 978-1-4613-5542-7

  • Online ISBN: 978-1-4615-1415-2

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