Sweeping New Compliance Obligations: The CCPA’s Impact on Financial Services
The California Consumer Privacy Act (CCPA), enacted earlier this year, will drive class action lawsuits for information breaches as well as impose sweeping new compliance obligations on financial services companies doing business in California. The CCPA has been called the U.S. GDPR; but while some of its requirements are similar, the CCPA applies to a much broader data set than GDPR or any U.S. privacy law to date. For most consumer-focused industries, the CCPA will be a game-changer—imposing costly compliance burdens, and creating significant enforcement and litigation risks. And while the statute purports to contain exemptions for financial services providers, it actually creates a complex compliance labyrinth between its provisions and federal financial privacy law, such as Title V of the Gramm-Leach Bliley Act and the Fair Credit Reporting Act.
In this webinar on February 14, Davis Wright Tremaine’s Helen Foster will discuss what you need to know to navigate the CCPA‘s long and winding road. This event includes a live Q&A session moderated by Eric J. Ellman, the senior vice president of Public Policy & Legal Affairs at the Consumer Data Industry Association.
Discussion topics include:
- Brief Background on the CCPA
- New Definition of Personal Information
- New Consumer Rights
- FCRA and GLBA Exemptions
- Challenges Related to Access Requests
- Reasonable Data Security
- Insights on Enforcement and the Private Right of Action
- What’s Next?