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Can You Guess the State with the Strongest Data Protection Law?

Question: 
Which state has the most comprehensive data protection law that will impact banks who collect data from their customers?
Answer: 

The California Consumer Privacy Act (CCPA) is the most comprehensive U.S. law on data protection and privacy. Effective as of January 1, 2020, the CCPA applies to any business that collects California residents' data (e.g., not just companies headquartered in CA).
CCPA empowers California residents to:
 Know what personal data is being collected
 Know if/how their personal info is being sold/disclosed, as well as the parties to whom its being sold/disclosed
 Prohibit the sale of their personal info
 Request access to their personal info via an online channel or by phone (and, sometimes, by mail or in person).
Other requirements include that consumers cannot be discriminated against for exercising their privacy rights, and businesses must implement/maintain adequate security procedures to protect personal data.
Violating this law can result in regulatory compliance penalties, as well as consumer lawsuits ($100-$750 per incident).
Discover how to comply with the CCPA and other states' data protection laws in this webinar. In the mean time, you can read the CCPA proposed regulations.

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Learn more about Carly Souther and Elba Manzanilla webinar Data Protection and Privacy for Community Bankers

First published on 01/05/2020

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