EU-U.S. to Resume Bank Data-Sharing Talks
FINANCIAL PRIVACY—EU & U.S.April 15, 2010
European Union interior ministers are expected to meet on April 22 to discuss and endorse the start of new negotiations between the European Commission and the U.S. on sharing bank transfer data that the U.S. contends is essential to the fight against terrorism. The European Voice reports the EU is considering new arrangements to replace those thrown out by the European Parliament in February due to data privacy concerns. According to the draft mandate, transfer requests from the U.S. will have to be approved by a designated judicial authority in the EU to ensure that EU citizens have the same administrative and judicial redress as U.S. citizens against any misuse of their data, the report states.