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Extended fraud protection from a global leader like Experian can put consumers’ minds at ease following a data breach.

Consumer information is at the center of our economy. It connects us to the right products and services, helps companies innovate and expand, and allows consumers to make smarter choices throughout their lives. While the use of consumer information is becoming more important to businesses and consumers, there is a growing concern among policy makers that the laws governing consumer privacy are not keeping up. Over the last year, the FTC and the Department of Commerce have been studying these issues and each released preliminary reports looking at the changing privacy landscape. Although much of the discussion has focused on online data, the reports take a broader look at the privacy practices of organizations both online and offline, offering a number of recommendations that challenge policy makers and companies to better protect consumer information. As regulatory agencies and Congress continue to examine business practices around consumer privacy, I thought it might be helpful to take a look at recent comments Experian filed with the FTC and highlight a few areas that will be important for policy makers to consider going forward. A flexible and adaptive regulatory system is essential to an innovative economy Consumer privacy expectations are continuing to evolve and, as a result, standards must not be rigid. Along with existing regulations, new challenges should be dealt with robust and evolving self-regulation – not new laws – to ensure consumers are protected now and in the future. Consumer privacy should be viewed from multiple perspectives The recent debate around commercial information sharing has centered on consumer privacy; however there are other viewpoints that should be considered. For example, how are businesses using information in a responsible manner to innovate and increase productivity or how does the overall economy benefit from consumer information that makes us more competitive in a global marketplace.   Incorporating consumer privacy into all aspects of a business is a powerful consumer benefit The FTC report recommends a “privacy by design” framework – meaning that companies incorporate privacy into every aspect of their business operations. This framework could potentially evolve into a useful tool for companies to evaluate their privacy and data security policies. In the coming months, we’ll likely see a number of Congressional hearings as federal regulators craft a final privacy report. And in future posts, we’ll explore how the new proposals impact your business.  

By: Linda Haran Next week (Feb 22-23), several Experian credit and collections experts will have the privilege of sharing their expertise with TRMA conference goers. Leading up to this year’s Conference, I thought I’d briefly introduce you to each of these speakers and provide a sneak preview of his or her presentation. Session: Wednesday, February 23, 2011 (9:30 a.m. to 10:30 a.m.) Topic:  Economic Update: Historical linkages between credit conditions and the economy, and their impact on telecommunications. Experian Presenter: Linda Haran, Senior Director, Business Strategy and Marketing, Experian Decision Sciences ---- KM: I want to welcome Linda Haran, Senior Director, Business Strategy and Marketing at Experian. Good morning, Linda. LH: Good morning, Kathy. It’s nice to see you. KM: Thanks. Well, another TRMA conference is upon us. LH: Yes, we’ve attended a few, haven’t we? KM: Yes, we have!  It’s one of my favorite conferences, though. And in terms of the quality and breadth of information, this one looks very promising for providers. KM: Now, we know you’re presenting again this year, but before we hear about that, tell us a little bit about what you do at Experian. LH: Sure. I’m the Senior Director of Business Strategy and Marketing for Experian Decision Sciences. I work closely with marketing and product managers, and together we focus on a couple of key areas. First, is understanding market trends and how they might affect clients’ emerging and future needs. We spend a lot of time delving into companies’ business issues and helping them see how sound analysis and good data can make them more successful. Internally, I work with our North American Decision Sciences team to formulate new product and growth strategies. It’s a big job but we have a very dynamic and dedicated team, which makes it fun. KM: Well, you’re no stranger to financial services. LH: No, I’ve been in the industry for more than 15 years. Nine with Experian, including time as Director of Product Management and Senior Manager of Portfolio Strategy for the Consumer Information Solutions. KM: You definitely bring a “big picture” perspective. So what will attendees learn from you this year? LH: In the “Economic Update,” session I (and an industry counterpart) will review the historical linkages between credit conditions and the economy—and specifically, how they relate to telecommunications. KM: I believe you’ll also be talking about certain sectors, right? LH: Yes. We present an analysis of the mortgage and bankcard sectors, where delinquencies have actually turned the corner and now are trending downward. We’ll also cover the state of foreclosures, changes in consumer behaviors, and the impact of all that on telecommunication services. Finally, we get into the credit outlook—changes in lending standards, delinquency trends, things like that—and share what we see coming for telecoms in the next couple of years. KM: All that in an hour, wow! LH: Yes! It’s definitely a full session. Because we tie together the past, present and future. Fortunately, people like the material, so we spend a lot of time afterward talking and answering questions. KM: Should be great, Linda, looking forward to it. Thanks so much for your time. LH: You’re welcome. See you there. Stay in the know Follow Experian from the TRMA conference on Twitter (@experiancredit), and check this blog regularly to learn about the latest trends, tools and tips—including credit and collection best practices and emerging legislation.