WASHINGTON: A coalition of five financial powerhouses is searching
for a PR firm to help with privacy-policy legislation.
Operating as the DC-based Financial Services Coordinating Council, the
coalition comprises the American Bankers Association, American Council
of Life Insurers, American Insurance Association, Investment Company
Institute and Securities Industry Association.
An RFP was sent to about 18 firms earlier this year, with eight making
the final cut. The budget is undisclosed.
The purpose of the pending PR campaign will be to 'explain the need for
appropriate privacy-policy legislation without going overboard with
overly-restrictive legislation,' said Jim Pitts, executive director.
Pitts hopes the PR campaign will 'short-circuit' the need for an
advertising initiative on this complicated issue. Target audiences
include members of Congress and state legislatures.
The issue of consumer privacy is growing and a large number of
businesses - including banking, insurance and others - are mailing
millions of federally required notices about how they collect and use