-- Last revised 01/03/24 --
Financial Privacy - Study B-400
The Law Revision Commission has issued its report on financial privacy.
The report analyzes Senate Bill 1 (Speier) - the California Financial Information Privacy Act, operative July 1, 2004. The report concludes that the new law largely achieves the objectives of the Legislature. Although clarification or improvement is possible, the Commission does not recommend revision of the new law before there is experience under it.
The report notes that the preemptive effect of federal law on the California Financial Information Privacy Act is not yet clear. The Commission believes it is premature to amend the new law to accommodate federal preemption.
The report recommends statutory revisions to integrate the California Financial Information Privacy Act with existing California privacy statutes. The recommendation addresses only major privacy statutes. Numerous other statutes may also require adjustment.
The report concludes that further legislative work is necessary with respect to federal preemption and coordination with existing state privacy statutes. An extension of the report deadline is necessary to enable the Commission to accomplish the additional work. The Commission would not commence the work for two years or such other time as litigation over federal preemption is adequately resolved. The work would be subject to availability of Commission resources at that time.
Related Material
- Legislation
- Final Recommendation
- Tentative Recommendation
- Commission Decisions (Meeting Minutes)
- Staff Memoranda
Legislation
-
2005: Senate Bill 1104 (Sen. Banking, Finance and Insurance Comm.) [Financial Privacy]
Not Enacted
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Final Recommendation
- Financial Privacy -- (September 2004)
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Tentative Recommendations and Other Requests for Comment
- Tentative Rec. -- Financial Privacy (April 2004) -- Comments Due: 7/31/2004
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Meeting Minutes
- September 17, 2004 Meeting in Oakland
- April 15, 2004 Meeting in Sacramento
- February 6, 2004 Meeting in Sacramento
- September 18-19, 2003 Meeting in Burbank
- June 6, 2003 Meeting in Burbank
- February 7, 2003 Meeting in Sacramento
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Staff Memoranda
- Memo 2004-37 -- Financial Privacy (Comments on Tentative Recommendation) (8/18/2004)
- Memo 2004-15 -- Financial Privacy (Draft of Tentative Recommendation) (3/9/2004)
- Memo 2004-9, Supp. 1 -- Financial Privacy (Recent Developments) (1/30/2004)
- Memo 2004-9 -- Financial Privacy (Discussion of Issues) (1/22/2004)
- Memo 2003-30, Supp. 1 -- Financial Privacy (Comments of Financial Institutions Committee of State Bar Business Law Section) (9/30/2003)
- Memo 2003-30 -- Financial Privacy (Discussion of Issues) (8/29/2003)
- Memo 2003-19, Supp. 1 -- Financial Privacy (Discussion of Issues) (5/23/2003)
- Memo 2003-19 -- Financial Privacy (Discussion of Issues) (5/7/2003)
- Memo 2003-1, Supp. 1 -- Financial Privacy: Overview (Comments of Personal Insurance Federation of California) (2/7/2003)
- Memo 2003-1 -- Financial Privacy: Overview (1/17/2003)