Sen. Shelby: Financial Reform Violates Privacy


Matt Cover
CNSNews
May 7, 2010

  • A d v e r t i s e m e n t
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Sen. Richard Shelby (R-Ala.), senior Republican on the Senate Banking Committee, said that provisions in the new financial regulatory bill violate privacy rights by allowing the government to collect any financial information it wants from any financial institution it wants.

Shelby, speaking at a press conference outlining Republican concerns about the financial regulatory overhaul, said that the bill violated Americans’ privacy rights by allowing the government to collect any financial information from any financial firm.

“I’m sure the ACLU – because we’ve heard from them – and others are looking at this very closely. I believe that it violates a lot of people’s privacy,” Shelby said.

Shelby added that Republicans would offer amendments that would attempt to “surgically strike” such objectionable provisions.

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