Dealing a clear setback to US efforts to spy on the private lives of European citizens, the European Parliament has voted 378 to 116 to end an agreement that would give US officials direct access to European financial records through the SWIFT banking system. Privacy International began a campaign in 2006 to stop the transfer of data, which violated European privacy laws and was described by European lawmakers as "disproportionate" and lacking reciprocity.
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by Ryan Calo, A. Michael Froomkin,