Privacy issues matter more than ever, especially in light of European and U.S. regulations regarding how consumer information can be aggregated, shared and used to market products and services.
Financial institutions will need to break out of old paradigms and adopt improved information sharing strategies that enable more efficient criminal investigations.
If you’re in one of the states considering legislation like the California Consumer Privacy Act, or something similar, here are three places to start.
From Vermont to California, states are creating a patchwork of data privacy requirements. Complying with them need not be equally piecemeal.
Responding to a request for feedback on consumer privacy legislation from Senate Banking Committee Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio), ABA today emphasized banks’ strong privacy and data security framework under the Gramm-Leach-Bliley Act and called for Congress to take an approach that ensures consistent privacy protections while promoting marketplace efficiency.
Financial innovation is happening worldwide. Here are some of the top developments to watch.
In an era of frequent data breaches and growing concern over technology companies’ use of consumer data, nearly three-quarters of Americans said they are more concerned about their data privacy than they were a year before, according to a survey conducted by software company SAS.
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As banks continue to assess their risks related to the European Union’s General Data Protection Regulation, which came into effect on May 25, ABA has released a new round of members-only resources to help.