In a letter to members of the House of Representatives, CFA and other consumer and privacy groups urge the House to oppose HR 2396, the so-called Privacy Notification Technical Clarification Act (Trott). This broadly drafted bill minimizes if not eliminates a clear annual warning even from a firm that is sharing consumers' non-public information with nonaffiliated third parties selling non-financial products. It hides valuable information from consumers that they have the right to say no to this sharing. As a result, fewer consumers are likely to opt-out of the sharing, which could lead to consumer harm, including additional unwanted marketing, discriminatory, exclusionary, and manipulative marketing practices, including price discrimination, and higher risk of identity theft. The bill takes away consumer control over their personal financial information, at a time when consumers are calling for more control.

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