Shrinking e-mail lists translate to shrinking ad revenues. Opt-in would make it more expensive for lenders to extend credit because it would cost more to collect data. Merchants would run into marketing roadblocks, reducing the personal touches that some consumers really welcome and expect on the Internet. With restricted data gathering, you and I can be expected to pay for the rising cost of doing business. Simple financial matters could become extremely messy, too.
Banks outsource a lot of third-party work, with electronic fund transfers from country to country.
Almost any prior consent policy could cause Kafkaesque nightmares on transactions we take for granted, like clearing checks, unless accompanied by an exception. For now, I am most comfortable with a requirement that both online and offline businesses offer consumers the choice to opt out of marketing their personalized information. A carefully tailored opt-out system would pay proper attention to a consumer s right not to be bombarded with unwanted junk mail, or spam, and would even save companies money. Knowing which consumers don t want to receive ads or phone calls can only reduce the cost of targeted marketing campaigns. It certainly would be welcome news if there were a tidy solution to the privacy question.