Document Type


Publication Title

Fordham Law Review



Publication Date



data protection, privacy, convergence


This article addresses the challenge to transnational financial services resulting from national regulation of information processing. National laws around the world seek to define fair information practices for the private sector and contain prohibitions on data transfers to foreign destinations that lack sufficient privacy protection. The effect of these laws for the financial services industry is significant because financial services depend on personal information. The article argues that the international attempts to harmonize information practice standards and the national efforts to regulate information processing encourage divergence of national standards for financial services. It argues that regulatory flexibility and customization is necessary to support financial services and accomodate, without circumventing, divergent national standards of fair information practices. It's theme of convergence focuses on bridging national differences, rather than on harmonizing national standards. It concludes by offering a shared rule to manage regulatory differences that enables the use of a set of legal, technological and social techniques. Thus, the article proposes convergence on a flexible and customized way to bridge national differences.