November 19, 2002

[Name & Address of Financial Institution]

Dear [Financial Institution] Representative,

Since the passage of the Financial Services Modernization Act, commonly known as Gramm-Leach-Bliley (GLB), California has debated financial privacy legislation that expands consumer control over the sharing and selling of personal financial information.

A number of questions regarding current financial institution privacy practices have been raised while working on California financial privacy legislation. I respectfully request that your institution answer the following questions regarding financial privacy, in written form, by noon on Monday, December 2, 2002. In answering the following questions, refer to the definitions in GLB. Please include any background information that you think may be useful.

1. Affiliates of the Financial Institution
· How many affiliates does your financial institution have? Please provide a current list of all affiliates.
· Does your financial institutions share nonpublic personal information with its affiliates for any reason?
· How your institution's number of affiliates changed since the initial enactment of GLB?
· How has the number of affiliates changed over the past decade?
· Do any of your affiliates provide products or services other than financial? If so, please provide a comprehensive list of the types of products and services.

2. Joint Marketing Agreements with Third Parties
· How many joint marketing agreements has your financial institution entered into with other financial institutions?
· How has this number changed since the initial enactment of GLB?
· How has this number changed over the past decade?
· Please provide a current list of these third parties.

3. Sharing of Information with Third Parties Absent Joint Marketing Agreements
· Does your financial institution share nonpublic personal information absent joint marketing agreements with 3rd parties? If so, with how many?
· How has this number changed since the initial enactment of GLB?
· How has the number changed over the past decade?
· Please provide a current list of these third parties.

4. Revenue from Information Sharing
· How much revenue does your financial institution generate from the selling, sharing, leasing, or otherwise exchanging nonpublic personal information with its affiliates? What percentage of your revenue does this comprise?
· How much revenue does your financial institution generate from the selling, sharing, leasing, or otherwise exchanging nonpublic personal information with third parties under joint marketing agreements? What percentage of your revenue does this comprise?
· How much revenue does your financial institution generate from the selling, sharing, leasing, or otherwise exchanging nonpublic personal information with third parties absent joint marketing agreements? What percentage of your revenue does this comprise?
· How have these amounts changed since a) the initial enactment of GLB and b) since 1992?

5. Consumer Privacy Protections
· If you share nonpublic personal information with either affiliates or third parties, do you monitor re-use of such information? If so, specifically how?
· Do you provide any consumer privacy rights to Californians that are beyond those mandated by federal law under GLB and the federal Fair Credit Reporting Act? If so, please describe.

Thank you in advance for your prompt attention to this matter.

All the best,

JACKIE SPEIER
Senator, 8th District

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