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California privacy measure gets committee OK

SACRAMENTO, Calif. - Financial privacy legislation was passed by the California Assembly Judiciary Committee on August 23 with a "hostile amendment" removed that critics said would have watered down the measure. The bill, SB773, was passed after a two-hour hearing. It is now expected to go to the full Assembly...

By Staff Writer | Updated on September 03, 2002

SACRAMENTO, Calif. – Financial privacy legislation was passed by the California Assembly Judiciary Committee on August 23 with a “hostile amendment” removed that critics said would have watered down the measure. The bill, SB773, was passed after a two-hour hearing. It is now expected to go to the full Assembly for a vote and if approved, to Gov. Gray Davis who has not indicated whether he will sign it. The legislative session is scheduled to end Aug. 31. “This measure is gaining momentum by the hour,” said state Sen. Jackie Speier, a Democrat who originally authored the bill. “Victory is well within our reach, and today was a critical step in that process.” Speier’s measure has the support of, among others, the California Credit Union League. It is opposed by banks and insurance companies.

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