> City of Daly City > City Hall > City News & Announcements > News Archives > 2003 News Archives > Mayor Declares Victory in Protecting Residents' Financial Privacy

Mayor Declares Victory in Protecting Residents' Financial Privacy

FOR IMMEDIATE RELEASE July 29, 2003
Media Contact:  
Adrienne J. Tissier, Mayor, City of Daly City
(650) 991-8125
Stan Gustavson, City Attorney, City of Daly City (650) 991-8122
DALY CITY MAYOR TISSIER DECLARES VICTORY
IN PROTECTING RESIDENTS’ PERSONAL FINANCIAL PRIVACY


Daly City – Mayor Adrienne Tissier gladly informed her community today that the anticipated decision from the federal district court upheld the ability of cities and counties to protect personal financial privacy of their residents.

“This is a great day for Daly City, and for all Californians. Our efforts, as the first city to adopt these protections, allows our residents the security and safety they sought in protecting their personal financial privacy,” said Mayor Tissier.

Judge Claudia Wilken of the federal district court for Northern California issued her opinion today supporting the viability of Daly City’s Financial Privacy Ordinance, along with the similarly challenged ordinances of San Mateo and Contra Costa Counties. These ordinances were adopted late last year to preserve residents from having their personal financial information sold or shared by their local bank without first asking the resident’s permission. The day following adoption of Daly City’s Ordinance, several national banks filed in federal district court to prevent the ordinance from taking effect.

The federal Gramm-Leach-Bliley Act permitted banks, insurance companies and securities to be sold under one-roof. However, because of growing privacy invasions and identity theft, Congress did not want to further compromise privacy by this consolidation, so the Act included a paragraph allowing states, cities and counties to take further action to protect personal financial privacy. Daly City’s ordinance was among the first to protect local privacy when it became apparent that attempts at the state level were lobbied into failure.

Mayor Tissier is asking other California cities and counties “to join in our effort and follow through with the privacy protections all residents clearly want, but that the State has failed to deliver.”

###