[Congressional Record Volume 147, Number 34 (Wednesday, March 14, 2001)]
[Senate]
[Page S2319]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. SHELBY:
  S. 536. A bill to amend the Gramm-Leach-Bliley Act to provide for a 
limitation on sharing of marketing and behavioral profiling 
information, and for other purposes; to the Committee on Banking, 
Housing, and Urban Affairs.
  Mr. SHELBY. Mr. President, I rise today to introduce the ``Freedom 
from Behavioral Profiling Act of 2001.'' This legislation would require 
financial institutions to provide proper notice and obtain permission 
from a consumer before they could buy, sell or otherwise share an 
individual's behavioral profile.
  Everyone recognizes the importance of insuring the accuracy and 
security of credit and debit card transactions. Without basic safety 
features, consumers would avoid non-cash transactions and our economy 
would greatly suffer as a result. However, financial institutions have 
taken their data gathering efforts far beyond what is necessary to 
protect consumers from fraud, inaccurate billing and theft. Companies 
are using transactional records generated by debit and credit card use 
and are developing detailed consumer profiles. From these files they 
know the food you eat, the drugs you must take, the places you go, and 
the books you read, as well as every other thing about you that can be 
gleaned from your buying habits.
  Troubling as it is that financial institutions are assembling such 
profiles, I find it even more worrisome that these companies are 
selling and trading these intimate details without consumer knowledge 
or consent. In as much, ``your'' sensitive personal information has 
become a commodity bought and sold like some latter day widget. I 
believe the American people have the right to be informed of these 
activities and should have the option to decide for themselves whether 
or not their personal information is shared or sold.
  I find it quite ironic that the very institutions that work so hard 
to secure sensitive corporate information are the same companies that 
work so hard to exploit the personal information of consumers. 
Unfortunately, it would seem that corporate America has decided that 
the ``Golden Rule'' is not applicable in the Information Age.
  The American people are only now becoming aware of the behavioral 
profiling practices of the industry. The more they find out, the more 
they do not like it. That is why I am offering this legislation, to 
give the consumer the ability to control his or her most personal 
behavioral profile. Where they go, who they see, what they buy and when 
they do it, all of these are personal decisions that the majority of 
Americans do not want monitored and recorded under the watchful eye of 
corporate America.
  Colleagues in the Senate, I hope you will join me in an effort to 
give the people what they want, the ability to control the 
indiscriminate sharing of their own personal, and private, consumption 
habits.

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