Hillary Clinton Proposes "Privacy Bill of Rights" Includes "Opt In" for Financial Information

This morning Senator Hillary Clinton proposed a "Privacy Bill of Rights" -- in other words, federal legislation addressing a number of privacy issues.

The proposal will be called the Privacy Rights and Oversight for Electronic and Commercial Transactions Act of 2006, or "PROTECT Act."

The bill would:

* Require that consumers affirmatively "opt in" before their information could be shared by credit card companies, banks and other financial insitutions.

* Require notification when consumer's information is sent to another country.

* Create a national requirement for immediate security breach notification

* Provide for a national credit freeze standard, and allow consumers to sue in federal court for privacy violations.

* Create a right for a free annual credit report.

* Limit cell phone numbers and call records disclosure.

* Create a "privacy czar" within the Office of Management and Budget.

* Create more penalites for HIPPA violations.