US customer privacy laws are weak, says Financial Insights

Framingham, MA –- The lack of a single set of privacy laws, coupled with comparably weak existing federal laws, create a more volatile regulatory environment in the US, according to research by Financial Insights, a Massachusetts-based financial technology consulting firm.

In its report, Privacy management update: An industry report card, author and analyst Dennis Behrman says the US compares poorly with other industrialised nations that apply explicit privacy protections to both the public and the private sectors and across industries. “Furthermore, these nations have formal offices of the privacy commissioner to enforce privacy regulations, whereas the US framework is enforced by no fewer than 10 federal regulatory agencies and a number of state agencies,” says