E-Loan CEO Chris Larsen isn't planning a run for public office, but he's still an advocate for the people. Larsen believes the financial industry is "fundamentally corrupt" and in need of reform - beginning with a strict consumer privacy protection law. . . .
E-Loan CEO Chris Larsen isn't planning a run for public office, but he's still an advocate for the people. Larsen believes the financial industry is "fundamentally corrupt" and in need of reform - beginning with a strict consumer privacy protection law. He's arming his cause with California's century-old ballot initiative process, which gives voters the power to directly enact laws in the state.

"The loose privacy rules in place are a catastrophe waiting to happen," Larsen said.

Larsen last year contributed $1 million to seed Californians for Privacy Now, an organization that is spearheading an effort to place a consumer financial data protection initiative on the state's 2004 ballot. The group's executive committee includes representatives from AARP, the American Civil Liberties Union, CALPRIG, the Consumer Federation of California, Consumers Union, Privacy Rights Clearinghouse and E-Loan.