Financial Institutions

One of the myriad of issues arising from the California Consumer Privacy Act (CCPA) is the extent to which financial institutions subject to the Gramm-Leach-Bliley Act (GLBA) must comply with the CCPA’s requirements in light of Section 1798.145(e), which provides that the CCPA “shall not apply to personal information collected, processed, sold, or disclosed pursuant to [the GLBA], and implementing regulations.” Because the CCPA’s definition of “personal information” is broader than the GLBA’s definition of “nonpublic personal information,” financial institutions have been faced with the daunting task of not only data mapping but also classifying that data based on whether it is subject to the GLBA.  Continue Reading Analyzing How Financial Institutions are Treated in Proposed State Privacy Laws