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FEDERAL DEPOSIT INSURANCE CORPORATION TO FOCUS ON CONSUMER PRIVACY IN THE FINANCIAL SERVICES INDUSTRY

FOR IMMEDIATE RELEASE
PR-14-2000 (3-1-2000)
Media Contact:
Phil Battey (202) 898-6993


Consumer advocates, government policy makers, Congressional staff, bankers and policy analysts will explore the privacy of consumer financial information in an electronic age at an interagency public forum hosted by the Federal Deposit Insurance Corporation (FDIC) on March 23, 2000.

The forum-"Is It Any of Your Business? Consumer Information, Privacy, and the Financial Services Industry"-will consist of panel discussions and question-and-answer sessions with members of the public audience.

Donna Tanoue, FDIC Chairman, will preside over the forum. Among the participants, the Clinton Administration's point person on privacy, Peter Swire of the Office of Management and Budget, will discuss the future of privacy law. Other panelists at the forum will include: Ed Mierzwinski, U.S. Public Interest Research Group; Frank Torres, Consumer's Union; and Julie Johnson, BankOne. Ellen Seidman, Director of the Office of Thrift Supervision, and Ed Gramlich, Governor, Federal Reserve Board, will moderate two sessions.

"The American public has told us that privacy is among the things that matter to them the most," said Chairman Tanoue. "We must listen."

In response to unprecedented public concern over the adequacy of privacy laws, Congress has passed new legislation-and Federal banking regulators have proposed new rules-to protect consumer privacy.

That concern has been fueled by technological advances such as Internet banking and by media accounts of questionable practices by financial institutions.

Except for members of the media, space is limited to the first 300 registrants.

The forum will take place at the L. William Seidman Center Auditorium, 3501 North Fairfax Drive, Arlington, VA. To register, call David E. Wright at (202) 898-3960.

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 10,291 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed.

FDIC press releases and other information, including today's quarterly listing, are available on the Internet via the World Wide Web at www.fdic.gov and may also be obtained through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200), or e-mail publicinfo@fdic.gov.

Last Updated 03/01/2000 communications@fdic.gov