The individual must also be allowed to inspect and correct his or her information. The Computer Matching and Privacy Protection Act of 1988 regulates such database matching, requiring reports by agencies that do match records, and simultaneously setting up procedural requirements for notifying individuals of their right to a hearing before the termination of federal benefits. Database matching is not prohibited, however, because it increases the efficiency of the federal government. Instead, a number of statutes regulate private industry in an ad hoc way. Whenever private data collection has created a public outcry, Congress has passed a statute to protect a new class of information.
Much private information is largely unprotected, however.
Various types of financial information are protected from unauthorized disclosure. Credit agencies may only disclose personal information by written consent of the consumer or for any legitimate business need in connection with a consumer transaction. Creditors must provide the consumer with copies of all credit transactions and are restricted from disclosing information about late payments until an opportunity to correct a possible error has been given. Creditors must also restrict disclosures of a debtor's financial information to collection information only. Medical records receive surprisingly little federal protection.