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EU Commissioners Approve Data Transfer Agreement

PRIVACY LAW—EU and U.S.

June 15, 2010

The European Commission has finalized a draft agreement that would allow banking data to be transferred to the U.S. in cases of anti-terrorism investigations. EUobserver reports that European Commissioner Cecilia Malmström will present the agreement today, and it will then be forwarded to the Council of Ministers and the European Parliament for approval. The draft agreement requires all data sent to the U.S. to be based on anti-terrorist investigations, prohibits such practices as profiling and data mining and provides such rights as blocking inaccurate data and judicial redress, the report states. Malmström has said the plan's data protection provisions have been significantly altered from an interim deal rejected by the European Parliament in February.
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