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Banks Share Information

(before 2003)

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Your bank knows a lot about you. It knows how much money you have and how much money you spend. Banks often share this information with other businesses.

Many people do not think banks should be able to share information like this with others. Some of these people are trying to pass a new bill that would stop it. This bill would make banks ask for permission from their customers before sharing personal information.

Banks collect information every time you use your ATM, go inside your bank, or even write a check. They often let others know what you are doing with your money. This makes some people angry.

Right now you must tell the bank not to share your information with others if you do not want them to. Most banks feel that this is good enough. The banks are not happy about this possible new bill.

Banks say that it is already easy for people to protect their personal information. They do not want any changes to be made. Banks are afraid that many customers might not let them continue to share personal information with others.

(This was adapted from an original story provided by News10 KXTV Sacramento.)

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