The head of a California online financial services company is spearheading efforts launch a ballot initiative in the state to protect consumers’ financial privacy, according to the Pleasanton, CA Tri Valley Herald.

Chris Larsen, CEO of E-Loan, Dublin, CA, has donated $1 million to help launch the initiative. Larsen said he expects the proposal to swiftly attract more money and volunteers because it has drawn overwhelming support in polls.

With attorneys putting final touches on wording, Larsen expects to soon submit the proposal to state officials in order to gain permission by summer to gather the 373,816 voter signatures needed to put the issue on the March 2004 ballot.

Larsen’s initiative and a measure by state senator Jackie Speier, (D-Daly City), are aimed at curbing the exchange of consumers financial records between financial firms and their affiliates, and with outside marketing companies.

The head of a California online financial services company is spearheading efforts launch a ballot initiative in the state to protect consumers’ financial privacy, according to the Pleasanton, CA Tri Valley Herald.

Chris Larsen, CEO of E-Loan, Dublin, CA, has donated $1 million to help launch the initiative. Larsen said he expects the proposal to swiftly attract more money and volunteers because it has drawn overwhelming support in polls.

With attorneys putting final touches on wording, Larsen expects to soon submit the proposal to state officials in order to gain permission by summer to gather the 373,816 voter signatures needed to put the issue on the March 2004 ballot.

Larsen’s initiative and a measure by state senator Jackie Speier, (D-Daly City), are aimed at curbing the exchange of consumers financial records between financial firms and their affiliates, and with outside marketing companies.