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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: Dinesh who wrote (42896)5/23/2001 11:51:40 AM
From: saukriver  Read Replies (3) of 54805
 
OT: Privacy Deadline--July 1

My beef is the way the brokerage companies and banks lobbied hard and set this July 1 deadline up as an opt out, knowing many customers would snooze past. Let's be clear: if you let the July 1 deadline pass without opting out, you are then subject to the financial institution's so-called "privacy" policies (really more privacy invasion policies).

The credit card cos., insurance cos., banks, and brokerages then send information about their "privacy" policy. It is heavy on legalese and designed to lull you to sleep. It frequently is buried as a flyer with your account statement.

Even if you have no objection to parting with some slice of your information (perhaps a company you deal with makes you a value proposition you like), you will not have the option to consider that if you don't opt out by July 1. Why? Because the decision to part with all your information (by not opting out of the so-called "privacy" policy by July 1) will have been made for you.

This legislation should have been an "opt in."

Explain the 900 number solution. How much does it cost? Can you order it for residences? Do you keep a regular line for friends/family? Don't marketeers eventually find your regular line? I'm intrigued.

saukriver
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