Bank of America CEO Supports FTC's Do-Not-Call Proposal;
Calls for Federal Preemption
Chairman, CEO and President Kenneth Lewis Speaks About Bank of America's Commitment to Privacy at the 8th Annual National Conference
Washington, D.C., March 21, 2002//: Bank of America's Chairman, CEO and President, Kenneth Lewis voiced his support of the FTC's proposal for a national "do-not-call" registry, but believes it should be coupled with federal preemption of state telemarketing laws. The patchwork of state privacy laws makes it difficult to comply and the costs to comply usually are passed on to the consumer, he said. Bank of America is the first and only corporation to publicly support the FTC's telemarketing proposal, which he announced today at the Eighth Annual National Conference in Washington, D.C., presented by Privacy & American Business and Privacy Council, Inc.
If adopted, Lewis stated that the do-not-call list should not affect existing customers, who should be given the opportunity to tell businesses how they want to be informed of new products and services. "There are simply too many legitimate reasons that companies contact their own customers - reasons that customers themselves find useful - to include calls to existing customers in a national do-not-call list," he said.
In addition, in support of the FTC's privacy agenda, Lewis announced that Bank of America will be working with the National Consumers League (NCL) to prevent identity theft. Beginning next month, Bank of America and NCL will produce public service announcements, create an ID theft avoidance resource website, and distribute educational materials about privacy, safety, and security online.
For more information about the Eighth Annual National Conference, visit www.ManagingthePrivacyRevolution.com or contact Irene Oujo at or (201) 996-1154.
About Privacy & American Business
Privacy & American Business, (pandab.org & www.PrivacyExchange.org), is an activity of the non-profit Center for Social & Legal Research, a non-profit, non-partisan public policy think tank exploring U.S. and global issues of consumer and employee privacy and data protection since its launch in 1993. P&AB was the first to chart and analyze for business the rise of privacy from a second-tier concern to a front-burner issue and to provide opportunities in programs and meetings to assist businesses in understanding the privacy environment as it is evolving. Members of the press may contact Irene Oujo at (201) 996-1154 or or visit pandab.org.
About Privacy Council, Inc.
Privacy Council is one of the nation's leading providers of privacy products including: Knowledge Products that walk a company through the creation of a privacy management process; P3P Compliance Programs that help companies create, manage and inventory compact policies; Privacy Scan, a detailed Web site examination of privacy risks; Privacy Monitor, a monthly managed privacy program; Privacy Survival Kit, nineteen reports and self-assessment tools; and Cyber Risk Management Services, a comprehensive program for underwriters insuring Web site security. We also publish Privacy Daily News, a subscription-based e-newsletter. Headquartered in Richardson, Texas, Privacy Council also has offices in Washington, D.C. and Philadelphia. Press may contact Sean McCabe (ext 110) or Peter Robbio (ext. 116) at 703-683-5004 or visit www.privacycouncil.com