The Information Services Executive Council is finishing a series of studies of how information sharing benefits a host of different companies and industries, according to Turner. Co. Sharing the Wealth As in the retail world, information-sharing helps financial institutions keep costs down. A study conducted by John Barron at Purdue University and Michael Staten at Georgetown University shows that credit interest rates in some other countries are significantly higher than in the U.S., based in part on the degree to which financial institutions in those countries have access to consumer data. Being able to use good credit history, the scholars argue, helps financial institutions balance their risks more wisely. Privacy advocate Jason Catlett, president of Junkbusters, acknowledges that protecting privacy will undoubtedly cost money.
Banks make millions selling customer names to telemarketers.
But if this was money made against the wishes of their customers, it's money the company should never have had in the first place. The omission, Catlett says, is glaring. Carolyn Rippy-Lunger Privacy is dirt cheap. Then subscribe to the IAW E-Mail Alert. Openwave Be a part of the communications revolution.