1、1 Ann H. Spiotto and James E. Spiotto, “The Ultimate Downside of Outsourcing: Bankruptcy ofthe Service Provider,” 11 Am. Bankr. Inst. L. Rev. 47 (2003).2 See, e.g., Federal Financial Institutions Examination Council (FFIEC), FFIEC TSP,“Supervision of Technology Service Providers (March 2003). 3 Juli
2、e L. Williams and James. F. E. Gillespie, Jr., “The Impact of Technology on Banking: The(continued.)Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS21809Updated June 9, 2004Financial Services Industry Outsourcing andEnforcement of
3、 Privacy LawsM. Maureen Murphy and Angie A. WelbornLegislative AttorneysAmerican Law DivisionSummaryConcerns about enforcement of customer privacy laws across internationalboundaries have been raised as the perception grows that more U.S. financial servicecompanies are outsourcing to foreign service
4、 providers. This report addresses somefrequently asked questions about the enforcement of federal laws requiring thesafeguarding of customer financial information in the context of this outsourcing. Thisreport will be updated as events warrant.What is Outsourcing? Outsourcing refers to a business pr
