<p>DUBLIN, Calif. – An E-LOAN study finds 82% of California voters are very concerned with protecting the privacy of their financial information. Seventy-seven percent of voters also strongly favor legislation currently being debated in the California Assembly that would require financial institutions to notify a customer and receive that customer’s permission before selling any contact or financial information to any unrelated financial or non-financial company. “The financial privacy provisions of the Gramm Leach Bliley Act, don’t go far enough for California consumers,” said Chris Larsen, chairman/CEO of E-LOAN. “With California often acting as a bell weather for the rest of the country, it’s fair to say that Gramm Leach doesn’t go far enough for consumers across America. Stronger legislation – `opt-in’ legislation – is needed in California and, ultimately, at the national level, to help restore consumer trust in financial institutions and invigorate commerce – both online and off-line.” Overall, voters showed a high level of dissatisfaction with the way their personal and financial information is currently shared among financial and non-financial companies. The study also showed that the uncertainty over the privacy of their financial information prevents many from conducting more business online, with 69% stating that they would do more financial transactions online if the privacy was guaranteed.</p>

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