Posted by Kraig Baker
Consumers' distrust of Corporate America is growing. It's probably not surprising following a summer full of well-publicized data breaches, but a CBS News/New York Times Poll shows widespread concern about what has become a common business practice -- collecting personal information about individuals. A large majority of Americans express negative views about companies collecting personal information about individuals, including what they buy, their credit histories, and income information.
When presented with reasons for and against such practices, 83% say that it is mostly a bad thing because it makes it easier for the information to be shared inappropriately, and just 13% think it is mostly good because it allows companies to better serve their customers and process financial transactions quickly. 82% of Americans think that privacy is under threat or has already been lost and 68% think the government needs to do more about it.
Even more interesting, the poll shows that almost twice as many of those polled fear what their banks and credit card companies will do with the information than what the government and law enforcement agencies might do. A big change from Americans' historic distrust of their government. Look for more new privacy laws governing Corporate America's management of customer information....