The lawsuits are great. But a related difficulty here is that it's too easy to get telephone records.
There are no laws that stop the government from looking at that info.
There are established legal procedures for obtaining phone records that provide checks against improper access. These legal procedures allow fast access to phone record for law enforcement and provide accountability. That's what missing here, the accountability.
Retailers and banks are trying to pass a law that's much weaker.
A technology that can analyze content at that level invites secondary uses, whether it's law enforcement or national security.
The privacy risk is that these codes may be later used for other law enforcement efforts outside counterfeiting, or to identify people who try to participate in political debates anonymously.