Consumers' personally identifiable information is an extremely valuable asset for retailers. The sale of consumer information causes problems for consumers because many bankruptcy retailers transfer personally identifiable information to third parties without notifying consumers beforehand and obtaining their consent. Perhaps most troubling, however, is that retailers facing financial turmoil sometimes sell personally identifiable information in direct violation of their own privacy policies, which specifically promise the safeguarding of consumer information. Numerous regulatory bodies have objected to such transfers, but to no avail. This Comment addresses the shortcomings of current privacy regulations both inside and outside of bankruptcy. Additionally, this Comment recommends the implementation of minimum federal privacy standards and suggests that the Bankruptcy Code include stronger consumer privacy guidelines. These approaches would allow consumers to have a say in who receives their personally identifiable information while simultaneously preserving the status quo.
Coming to a Retailer Near You: Consumer Privacy Protection in Retail Bankruptcies,
Emory Bankr. Devs. J.
Available at: https://scholarlycommons.law.emory.edu/ebdj/vol33/iss2/5