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#550003 - 05/17/06 08:36 PM Safeguarding Customer (Consumer) Information
inquiringmind Offline
100 Club
Joined: Mar 2003
Posts: 155
Is Illinois law more restrictive than Federal law concerning safeguarding and sharing customer information? Can anyone provide the citation or citations for the ILCS that covers safeguarding customer/consumer information?

Thanks.

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#550004 - 05/18/06 11:20 AM Re: Safeguarding Customer (Consumer) Information
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Illinois has a detailed financial privacy statute at (205 ILCS 5/48.1) (from Ch. 17, par. 360) It also has a reference to privacy in its state constitution. In combination, that makes it a state where bankers need to hold their customers' information especially dear.

However, "safeguarding" and "financial privacy" are related concepts, not synonyms. I'm not aware that Illinois has any laws or regulations that provide for the safeguarding of customer information.
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