The Research Of Financial Privacy Protection

With modern technology's ability to gather and retain data, financial services businesses have increasingly found ways to take advantage of their large reservoirs of customer information. Not only can they serve their customers better by tailoring services and communications to their preferences, but they can profit from sharing that information with others willing to pay for customer lists or targeted marketing compilations, which is called co-marketing. The Gramm-Leach-Bliley Act was promulgated in 1999 in USA. Chapterâ…¤contains privacy articles relating to consumer financial information. Although questioned continuously by financial institutions and consumers, these articles still have invaluable implications to China.This thesis analyzes the financial privacy regulation of Financial Service Modernization Act. There are four parts of the thesis. Firstly, it discusses the conception of privacy and financial privacy. Secondly, it introduces develop of Banking holding company in China and the importance of personal information to co-marketing. Thirdly, introduce the framework of financial privacy protection in GLBA, and discuss opt-in or opt-out could offer greater privacy protection to consumers. Finally, offer a few conclusion and recommendation to personal financial privacy protection about the co-marketing of the financial holding company in China.