OKC Legal Briefs Nov. 7, 2002.
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A conference to help companies comply with new federal laws and regulations is being offered by the Oklahoma City University School of Law and the Conference on Consumer Finance Law. “The New Federal Business Laws: Privacy; Anti-Terrorism; Corporate Responsibility; and Bankruptcy” is scheduled Dec. 5-6 in Dallas. The Gramm-Leach-Bliley Act, U.S.A. Patriot Act, Sarbanes-Oxley Act and proposed federal bankruptcy reforms have created compliance issues for businesses. In addition to lawyers, business owners and corporate executives, the conference will help those in the banking, financial services and other businesses and professions understand the new rules, said Alvin C. Harrell, OCU professor of law, program coordinator and executive director of the Conference on Consumer Finance Law. “The challenge for business owners is that these new federal laws are both comprehensive and contradictory,” said Harrell. The Gramm-Leach-Bliley Act enhanced individual privacy by restricting business use of customer records, whereas the U.S.A. Patriot Act was designed to eliminate privacy rights that might impede the war on terrorism. “Many of the privacy guidelines set forth in Gramm-Leach-Bliley Act seem inconsistent with the requirements of the U.S.A. Patriot Act - yet businesses must somehow find a way to comply with both,” Harrell said. In addition to Harrell, panel members will include Robert D. Ballieu, an attorney with Bankers Systems Inc., St. Cloud,… |