Calif. Gov. Supports Speier’s SB1

California Governor Gray Davis made the following statement on privacy legislation in light of the upcoming deadline for passage of SB1 the financial privacy measure sponsored by Senator Jackie Speier:

“I have been working with Senator Speier, consumer advocates, and the financial community for more than four years to develop financial privacy legislation that offers consumers the strongest privacy protections possible while giving them the financial services they need. The Legislature now needs to finish the job. Because we have worked so long on the details of all the complex issues involved, I would prefer that the Legislature reach a final agreement. Signing a strong financial privacy bill will be the crown jewel of the many protections I have signed into law to protect consumer privacy and prevent identity theft.”

If the legislature does not act by August 19th, sponsors of a privacy rights ballot initiative will drop 550,000 already-gathered signatures on the Secretary of State’s desk.