In an attempt to make the privacy notices of banks and other financial institutions easier to read, Federal regulators are attempting to overhaul the requirements that govern these notices. All this according to an article in Computer World.
From the article —
Federal regulators today released a prototype privacy notice designed to make it easier for consumers to read about, understand and compare the privacy practices of banks and other financial institutions.
The simplified notice is part of a 365-page interagency report (download PDF) summarizing the first phase of a research effort launched in September 2004 to develop alternatives to today’s lengthy, dense and complex notices.
You can read the entire article @ Feds push for improved privacy notices.